NFP Preview: Testing the "full employment" theory - watch wages

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The US economy gained only 98K jobs in March. Expectations are higher now: around double that amount alongside a healthy gain in wages. Are expectations too high? A weak gain in jobs could be easily compensated by a pay raise to the American worker. Such an outcome would also validate the theory of full employment: there are less available workers for job gains, but wages are rising as a result. If we get a repeat of the previous NFP, the greenback could fall.

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