US NFP: Expect +200k in April – Goldman Sachs

Analysts at Goldman Sachs offer a sneak peek into the upcoming US non-farm payrolls numbers for April due at 1230GMT later on Friday.

Key Highlights:

Expect +200k in April

Unemployment rate at 4.5%

Average hourly earnings to increase 0.3% m/m & 2.7% for the y/y

Reasons behind the upbeat forecasts:

Encouraging labor market fundamentals

Favorable swing in the weather

Partially offset by slowing job growth in the retail sector

Expect household employment will hold on to its sharp year-to-date gains

Expect firming wage growth with positive calendar effects