A Preview Of Friday's Jobs Number

Loading...
Loading...

The Bureau of Labor Statistics (BLS) will report May's employment numbers on Friday at 8:30 a.m. EST.

According to Bloomberg, the consensus estimate is for an increase of 226,000 non-farm payroll jobs in May. The estimates range between 190,000 and 289,000, with the expectation for unemployment rate to be unchanged at 5.4 percent.

April's BLS jobs report showed 223,000 jobs added with the unemployment rate at 5.4 percent. The ADP Employment report, which focuses more on private employment, came out on Wednesday, showing a private sector increase of 201,000 jobs in May. This narrowly beat consensus estimates of 200,000 job growth. but was an improvement from April's number of 165,000.

Following the ADP jobs report, Mark Zandi, chief economist of Moody's Analytics, said, "The job market posted a solid gain in May. Employment growth remains near the average of the past couple of years. At the current pace of job growth the economy will be back to full employment by this time next year. The only blemishes are the decline in mining jobs due to the collapse in oil prices and the decline in manufacturing due to the strong dollar."

Goldman Sachs analyst Kris Dawsey feels the jobs number may beat expectations, pointing out that the four-week moving average of initial jobless claims between the April and May reference periods for the jobs report fell by 19,000.

Loading...
Loading...
Posted In: PreviewsEcon #sTrading IdeasBloombergMark ZandiMoody's
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...