US: Nonfarm payrolls to increase 190k in March – Goldman Sachs

Analysts at Goldman Sachs offer their expectations on the US labor market report due to be released later today at 1230 GMT.

Key Quotes:

“We estimate nonfarm payrolls increased 190k, unemployment rate at 3.8% and +0.3% in average hourly earnings m/m …. +3.3% y/y

Reasons cited:

“Reflects a boost from the weather of around 20k.

“We believe the trend in job growth has slowed from last year's strong pace.

Renewed declines in jobless claims and the resilience in business surveys suggest that the trend remains nicely above potential.”