Analysts at HSBC offer a sneak peek at what to expect from Friday’s US labor market report that will drop in at 1230 GMT.
Key Quotes:
“Expect “¦ 165,000 “¦ from a subpar 20,000 increase in February
Average hourly earnings rose 0.3% m-o-m in March. Depending on rounding, this may be enough to keep the y-o-y rate of increase unchanged at 3.4%.
The unemployment rate fell to 3.8% in February from 4.0% in January, as furloughed federal employees who were previously on temporary layoff returned to work. We expect the unemployment rate was steady at 3.8% in March.”
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