“We forecast that nonfarm payroll employment increased 200k in January, after an increase of 156k in December and 204k in November”
Over at Barclays, economist Michael Gapen writes that the firm expects 175,000 jobs were added in January, with 160,00 coming from the private sector.
“Initial and continuing jobless claims have continued to trend lower, bolstering our confidence that labor demand remains solid,” Gapen writes.
Pantheon Macroeconomics economist Ian Shepherdson expects an above-consensus 230,000 jobs were added to the economy in January. Additionally, Shepherdson thinks the hourly earnings data — which is important for the Federal Reserve as faster wage growth is seen as portending a rise in inflation
Shepherdson’s analysis suggests monthly earnings could rise 0.5%, more than the 0.3% expected, which would push annual wage gains up to a new cycle high of 3%.
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