Analysts expect a healthy rebound succeeding a dreary March employment report. According to ADP, private sector jobs added 177K jobs in April, just notch above the expected 175K.
Experts predict the Labor Department to report a total of 190K non-farm payroll additions on Friday.
Unseasonably warm temperatures to kick off the year, followed by a few gnarly storms in the third month of the quarter was to blame for the big miss in March. With such a large discrepancy in March it’s never certain what the ADP report means for the overall labor market. However, many economists suggest that tomorrow’s labor report will make a solid showing signaling that the economy remains strong despite the first quarter set back.
The national unemployment rate is expected to increase slightly from 4.5% to 4.6%.
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