It is jobs day in America.
Via Bloomberg, here is what Wall Street is expecting when the latest numbers cross at 8:30 am ET:
- Nonfarm payrolls: +228,000
- Unemployment rate: 5.4%
- Average hourly earnings, month-on-month: 0.2%
- Average hourly earnings, year-on-year: 2.3%
- Average hourly earnings: 34.5
In a note to clients ahead of the report, Goldman Sachs’ David Mericle outlined 3 reasons why the report could be better than expected and 3 reasons why it might disappoint. Mercile is expecting payrolls to grow by 230,000 with the unemployment rate falling to 5.4%.
Deutsche Bank’s Joe LaVorgna sees payroll gains of 225,000 and said the strength in initial jobless points towards a bounce back after a disappointing March number.
And in a post over at the Brookings Institute earlier this week, one economist has a model that points towards a big drop in the unemployment rate to 5.2%.
We’ll be back with the live numbers when they cross.