Nonfarm Payrolls Preview: Banks see a still quite strong labour market NFP Employment DollarIndex Macroeconomics Banks
expected to fall a tick to 3.6%. Average Hourly Earnings are also seen a tick lower to 4.2% year-on-year.The labor market is probably neither as strong as the job gain suggests, nor is it just collapsing as other indicators signal. Accordingly, we forecast a job gain of 240K in the June report, which would be less than in May, but still well above the 100K expected on trend based on population trends.
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