4 Mar 2016
US NFP likely to print 195K for February - BBH
Research Team at BBH, suggests that the consensus calls for around 195k increase in US nonfarm payrolls.
Key Quotes
“While it would be an improvement on the 151k increase in January, it would be the second consecutive reading less than 200k. This is not too worrying with the unemployment rate at 4.9%. Many economists project job growth a 150k a month or so is sufficient to absorb slack in the labor market and push the unemployment rate lower.
In January, the details of the report, including the increase in earnings and hours worked, were better than the headline. The risk is that in February it is the other way around, with a better headline and softer details. Nevertheless, barring a significant surprise, we don’t expect today’s report to seriously boost the chances of a Fed hike on March 16.”
Key Quotes
“While it would be an improvement on the 151k increase in January, it would be the second consecutive reading less than 200k. This is not too worrying with the unemployment rate at 4.9%. Many economists project job growth a 150k a month or so is sufficient to absorb slack in the labor market and push the unemployment rate lower.
In January, the details of the report, including the increase in earnings and hours worked, were better than the headline. The risk is that in February it is the other way around, with a better headline and softer details. Nevertheless, barring a significant surprise, we don’t expect today’s report to seriously boost the chances of a Fed hike on March 16.”