US nonfarm payrolls likely to rise by 170,000 in April – Danske Bank

Analysts at Danske Bank suggests that the main event today is the US jobs report for April which is likely to garner maximum investors’ attention.

Key Quotes

“We estimate nonfarm payrolls rose 170,000 in April, a bit below consensus of 190,000 but in line with the employment growth in the ADP jobs report for April. We estimate the unemployment rate ticked up to 4.6% after the big fall to 4.5% in March. While we expect wage growth to fall to 2.6% y/y, consensus calls for an unchanged print at 2.7% y/y.”