According to the median economists’ forecast, the US added 230,000 jobs in January.
For what it’s worth, the January jobs number has a history of missing economists’ expectations when it’s first released.
“Over the past 10 years, the initial January payrolls print has fallen short of the consensus expectations 9 times, with an average miss of 57K – though the initial estimates were subsequently revised significantly higher in each of the last 5 years,” TD Securities Millan Mulraine noted.
This doesn’t really say much. If anything, it reveals a little about how bad economists are at forecasting the payrolls report.
Having said that, Mulraine believes the economic conditions support support a stronger number. He estimates 245,00o nonfarm payrolls were added in January.
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