US NFP: Expect 165k in March vs. a subpar 20k increase in February - HSBC

Dhwani Mehta FXStreet

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.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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