US DATA REACT: Mizuho says growth bulls will “look at the second
consecutive month of rising household employment as a sign that smaller
firms are beginning to add workers, even though this may simply reflect
self employed workers who have simply given up on finding a job and had
decided to try and go out alone and see what they can find in service
jobs. As such, the increase in household employment exactly matched the
increase in the labor force. Where the labor market data was clearly
distorted by the data was in hours worked where the overall workweek
fell to 33.8.” State St says it was a “solid and decent jobs report,
even with 1.031 mln workers impacted by bad weather.” For Mar they
“expect Census Hiring to add near +144.0k, for weather to add back near
+75k… and for new worker hires who were delayed in Feb to add +20k.”
That could print +170k or better.