3 Apr 2015
Credit Agricole: March Nonfarm payrolls expected to show a 260k rise – eFXnews
FXStreet (Barcelona) - Credit Agricole explains the reasons behind their above consensus forecast for US NFP at 260k, notes eFXnews.
Key Quotes
“Nonfarm payrolls are expected to rise by 260K in March, with the unemployment rate steady at 5.5%."
“Manufacturing employment, which softened to an 8K rise in February, likely came in a touch stronger as regional Fed employment surveys so far point to a modest pickup. In particular, the Empire survey rebounded by 8 points to a 10-month high, while other indexes indicated moderate growth.”
“Construction job growth is also expected to accelerate after a dramatic slowing in February which was likely weather related.”
“Employment in the mining sector, however, likely continued to subtract from payroll growth led by losses in oil and gas extraction and support activities.”
“On balance, we look for goods-producing industries to post a stronger increase than in February.”
“In private services, job growth likely remained robust and near the 6-month average of 234K.”
Key Quotes
“Nonfarm payrolls are expected to rise by 260K in March, with the unemployment rate steady at 5.5%."
“Manufacturing employment, which softened to an 8K rise in February, likely came in a touch stronger as regional Fed employment surveys so far point to a modest pickup. In particular, the Empire survey rebounded by 8 points to a 10-month high, while other indexes indicated moderate growth.”
“Construction job growth is also expected to accelerate after a dramatic slowing in February which was likely weather related.”
“Employment in the mining sector, however, likely continued to subtract from payroll growth led by losses in oil and gas extraction and support activities.”
“On balance, we look for goods-producing industries to post a stronger increase than in February.”
“In private services, job growth likely remained robust and near the 6-month average of 234K.”