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Free AccessUS Data: Highlights of Market Survey of Economic Forecasts
Repeats Story Initially Transmitted at 21:06 GMT May 7/17:06 EST May 7
WASHINGTON (MNI) - The following are highlights of forecasts for upcoming
U.S. economic indicators provided by Bloomberg. The comment section presents the
key elements behind the median forecasts.
Nonfarm Payrolls for March (change in thousands and millions)
Friday, May 8 at 8:30am (ET) Actual
Median Apr20 Mar20 Feb20
Payrolls -21.75m -- -701k +275k
Private Jobs -21.70m -- -713k +242k
Jobless Rate 16.0% -- 4.4% 3.5%
Hrly Earnings +0.4% -- +0.4% +0.3%
Avg Wkly Hrs 33.6 -- 34.2 34.4
Comments: The labor market will show unprecedented weakness in figures due
Friday, reflecting the crippling effect of the coronavirus on U.S. employment in
April. Markets are predicting payrolls fell by -21.75 million in April following
a -701,000 decline in March that was the first decline in payrolls growth in
nearly 10 years. Nearly 27 million initial jobless claims were filed between
mid-March and mid-April, when the report was generated. The unemployment rate is
widely expected to land between 15%-20% in the Bureau of Labor Statistics
report, but experts say that still understates the true jobless rate as many
unemployed workers are not currently looking for a new job and have therefore
exited the workforce under BLS standards. That would mean the labor force
participation rate, which dipped slightly to 62.7% in the March report, should
show considerable weakness Friday.
Wholesale Trade (percent change)
Friday, May 8 at 10:00am (ET)
Actual
Median Mar20 Feb20 Jan20
Sales -3.0% -- -0.8% +1.3%
Comments: U.S. wholesale trade is expected to have fallen by -3.0% m/m in
March.
--MNI Washington Bureau; +1 202 371 2121; email: ryan.hauser@marketnews.com
[TOPICS: MTABLE]
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