US NFP Preview: Expected to be at trend
The Bureau of Labor Statistics (BLS) a division of the US Department of Labor will issue its Employment Situation Report for February on Friday, March 6 at 13:30 GMT. Joseph Trevisani, an analyst at FXStreet, brings the preview.
“Non-farm payrolls are expected to rise by 175,000 in February following January’s 225,000 increase. The unemployment rate is expected to be unchanged at 3.6%.”
“Hourly earnings will rise 0.3% after January’s 0.2% gain. Annual earnings should increase 3% following 3.1% in January while average weekly hours will be stable at 34.3.”
“The February report will begin to replace concern with facts though many of the hiring decisions reflected in the report will have been made before the virus became a global concern. The reports for March and April will be more telling.”