US: Nonfarm payrolls likely rose by 190,000 in March – Danske Bank

Analysts at Danske Bank point out that today, the US jobs report for March is due out and will be the key economic release for today’s session.

Key Quotes

“The US labour market looks strong on most parameters and the weak increase in nonfarm payrolls in February was most likely a fluke after the big increase in January.”

“We expect nonfarm payrolls rose 190,000 in March and that average hourly earnings rose +0.25% m/m, implying a fall in the annual growth rate to 3.3% y/y from 3.4% y/y. If we are right, the jobs report should support markets, which have rallied this week based on renewed growth optimism, as the US is not about to fall into recession just yet.”