The March deceleration in US non-farm payrolls (NFP) to 126,000 was a blip and look for a rebound to 245,000 in April (Friday, 08:30 ET), higher than the consensus view of 230,000.
This would be consistent with indicators suggesting labour-market activity has remained healthy, despite recent uneven activity growth.
Q1 GDP grew only 0.2% q/q SAAR according to the first release. But the April ISM employment sub-index edged up 0.1ppt to 56.7, a third straight gain; and jobless claims have remained anchored below 300,000, a level historically consistent with full employment.
ADP employment data was a disappointment at only 169,000 after a revised 175,000, but ADP imperfectly correlates with payrolls.
(Source:
http://fxwire.pro/US-April-payrolls-likely-rebounding-to-245000-33223)
