Friday is the main event: it is jobs day in America.
Here is what Wall Street economists are looking for:
Nonfarm payrolls: +180,000
Unemployment rate: 4.7%
Average hourly earnings, month-on-month: +0.2%
Average hourly earnings, year-on-year: +2.7%
Average weekly hours worked: 34.4
Ahead of Friday’s report, markets were fairly quiet with geopolitical headlines getting most of the focus from investors, who were still breaking down the impacts of Wednesday’s news that the Federal Reserve is considering winding down its balance sheet later this year and that some Fed officials have taken note of the high price of stocks.
In a note to clients ahead of the report, economists at Goldman Sachs said they expect nonfarm payrolls to grow by 170,000, slightly less than consensus and down from last month’s 235,000 print.
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