Most economists expect the NFP to plunge in May to somewhere between 140K-175k following a bumper April figure of 263k. In addition, they predict that the unemployment rate in the US will remain stable between 3.6% and 3.7% in May.
Here are the views of some major banks in the sector:
ING
ING expects US job growth to fall to 175,000 in May after a surprising figure of 263,000 in April.
They expect wage growth to remain 3.2% in May.
This time we expect some adjustment in the unemployment rate to 3.7%.
TD Securities
TD Securities says the surprising 27k ADP employment report on Wednesday is enough to convince them to reduce their NFP forecast to 140K for May.
They believe the unemployment rate will remain at 3.6% and wage growth will fall to 3.1%.
National Bank of Canada
The bank's expectations are for 175K new jobs, the unemployment rate to keep 3.6%, while wage growth to fall to 3.1%
Westpac
The bank's expectations are for 170 new jobs, the unemployment rate rising to 3.7%, while wage growth rises to 3.3%
Rabobank
The bank's expectations are for 175K new jobs, the unemployment rate to remain at 3.6%, while wage growth will remain at 3.2%
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