The eagerly anticipated monthly US employment release is today at 13:30 BST (London). The Depart for Labor releases the Non-Farm payroll employment report, which covers jobs in goods, manufacturing, and construction companies but excludes farm workers, non-profit organisations and private households.
This release will closely watched by traders following the abysmal US Q1 GDP release of 0.1% growth. The figure was a huge disappoint, though the cold weather has been largely blamed for the minimal growth in the first quarter.
On Wednesday the ADP employment report said that the private sector added 220K jobs in April, which was at the higher end of expectations. The Federal Reserve is currently tapering its monthly asset purchases to wean the economy off of the stimulus.
What does the Street expect?
The estimates are leaning towards a strong payrolls report in spite of the poor weather that could have effected hiring. Here are some of the banks estimates:
If you are on Twitter, follow the #NFPGuesses for other people's estimates for the NFP release, though these are just guesses.
Please leave your NFP estimate in the comments section below!
All of the information above is accurate to the best of our knowledge at the time of publish. Due to reasons beyond our control the information about third party estimates might be incorrect, and are subject to change. The information above doesn’t constitute a recommendation to buy or sell securities; Abshire-Smith is an execution only broker.