Economist Dr. Mikhail Melnik Expects Friday's Payroll Growth To Be Around 220,000

When asked about Friday’s payroll numbers, economist Dr. Mikhail Melnik told Benzinga he expects payroll growth to be around 220,000, with private payroll rising by about 205,000.

Melnik, an associate professor for Kennesaw State University, said the economic growth seems to have cooled down for a bit from the October and November acceleration, but still remains positive.

“Despite the strong jump in the third quarter GDP, non-resident structural investment was barely positive, indicating a somewhat soft business confidence and a possible pullback in payroll going ahead,” he said.

But Melnik added that low interest rates and low commodity prices seem to stimulate consumer confidence.

The SPDR S&P 500 ETF Trust SPY traded higher in Thursday's session, and is up more than 12 percent from a year ago.