Here is a quick preview from Goldman Sachs of the non-farm payroll report due in the US on Good Friday.
- GS "expect nonfarm payroll job growth of 220k in March
- below the consensus forecast of 245k", which is "a downward revision from our previous estimate of 240K"
GS says:
- "labor market indicators were generally flat or weaker in March, suggesting payroll growth somewhat below the recent trend
- We expect the unemployment rate to remain unchanged at 5.5%
- Average hourly earnings to rise 0.2%, roughly in line with the recent trend rate of wage growth"
- "in March, most labor market indicators were flator weaker, suggesting payroll growth somewhat below the recent trend"
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OK, so that's what GS is thinking ... more previews:
Here: Non-farm payrolls preview: By the numbers
and here: Infograph: Preview of the March US employment report
and here: How the market will react to an NFP miss
and here: Citi on the upcoming NFP ... "USDJPY downside is likely to be the trade"
and .... Here are two banks that think Friday's NFP are likely to moderate after the February surge
