The official report on employment in the United States will be published next Friday. Wells Fargo analysts they expect another strong payroll increase of 275,000, a forecast higher than the 250,000 market consensus.
Featured Statements:
“The US labor market remains one of the strongest parts of the global economy. Nonfarm payrolls rose by 315,000 last month, with gains in industries once again broad-based. This pace of job growth signals a reduction in the average of 402,000 jobs recorded in the previous three months, but it’s still a solid gain in its own right. For context, nonfarm payrolls increased by an average of 167,000 a month in the 2010s.”
“The extremely tight labor market is keeping wage growth above what is consistent with the Fed’s 2% inflation target. To achieve a soft landing, the Fed needs labor demand to cool enough enough for wages to slow down, but not so much that the economy is headed for a nasty recession.”
“In the short term, we expect another solid 275,000 increase in nonfarm payrolls in next week’s jobs report. Another sizable increase in labor force participation would be a welcome development for Fed officials as they attempt the act.” tightrope walk of bringing labor supply and demand into a healthy balance.”
Source: Fx Street
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