US NFP: Total of 160,000 new jobs likely created in March – Danske Bank

Analysts at Danske Bank explain that the key market focus today is the non-farm payroll report from March due to be released in the US.

Key Quotes

“The US labour market has been in good shape over the past two months and we expect this trend to continue. We estimate a total of 160,000 new jobs were created in March but highlight that risks are skewed to the upside as the ADP labour report from Wednesday suggested weather conditions had less of a negative effect on job growth than we have pencilled in. We estimate the average hourly earnings increased 0.2% m/m, which would mean an increase of 2.7% y/y. We furthermore estimate the unemployment rate remained at 4.7% after last month's decrease.”