Barclays Capital expects today's February nonfarm payrolls to increase 250k, private payrolls to rise 245k, and government payrolls to expand 5k.
"Our forecast for 245k in private payroll growth in February would represent a slowing from the 320k and 267k rates of growth in December and January, respectively," Barclays projects.
"Elsewhere in the February employment report, we look for the unemployment rate to fall 0.1pp, to 5.6%, and average hourly earnings to rise 0.2% m/m and 2.1% y/y. Finally, we expect the average workweek to hold steady at 34.6," Barclays adds.
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