Here's your super quick preview of this morning's big jobs report

American flag statue of liberty patriotic greenREUTERS/Andrew KellyWill things be looking up for labour in America on Friday?

Good morning!

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.

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