April’s jobs report is expected to show a spring back in hiring – and in the economy
It is also the one piece of data traders say could move the clock up on a Fed rate hike, if it is strong enough. But the mood around it turned sour Wednesday, after ADP reported just 169,000 private sector payrolls for April. While ADP is not an accurate reflection of the government data, it did notch down the odds for a good report in the minds of traders.
Economists, however, still expect a fairly strong number, after March’s surprisingly sluggish 126,000 nonfarm payrolls. There are 224,000 nonfarm payrolls expected, and the unemployment rate is projected to fall to 5.4 percent, according to Thomson Reuters.