May Employment Reporter Preview - 08:30.....>

US DATA: May Employment Reporter Preview - 08:30 EDT/13:30 BST

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- Nonfarm payrolls are expected to rise by 178,000 in May based on the Bloomberg

consensus and by 185,000 based on an MNI survey of analysts. There is no clear

bias toward over or underestimates in past May data.

- After the incredibly soft 27,000 increase in the APD measure of private

employment, some analysts shifted their expectations for Friday's report lower.

The BBG survey sees private payrolls rising by 172,000, while the MNI survey

sees a 175,000 increase. 

- As noted in an MNI preview published Thursday, other measures of employment

from ISM and the Conference Board suggest employment growth remained strong

offsetting some of the downside risk from ADP. Conversely, an MNI analysis noted

that when ADP prints below 100,000, BLS payrolls growth slows in the

corresponding month.

- The unemployment rate is expected to stay at 3.6%, while hourly earnings are

seen up 0.3%