May 06, 2022 05:54 GMT
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Nonfarm payrolls are expected to have risen by 380k in April according to the Bloomberg survey median or 400k with the primary dealer median with relatively even dispersion.
- Average hourly earnings growth is seen unchanged at +0.4% M/M whist the unemployment rate is forecast to fall another tenth to joint pre-pandemic lows of 3.5%.
- Fresh on the tail of the FOMC, a high bar for non-50bp hikes has been set and there’s still another payrolls report on Jun 3 ahead of the next FOMC on Jun 15, but nuances remain.
- See the full MNI Preview including previews from 10 sell-side analysts here.