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U.S. April Non-Farm Payrolls Forecast Released: 120k New Jobs, Hourly Wage Growth Possibly Rebounding to 3.8%
Mars Finance News, on May 8th, the Chief U.S. Economist at Fifth Third Bank, Bill Adams, predicted that non-farm payrolls in April are expected to increase by 120k jobs, with the unemployment rate remaining steady at 4.3%. The annualized average hourly wage may rise from 3.5% in the March report to 3.8%, which to some extent alleviates the impact of rising gasoline prices on living costs. If this forecast is realized, the monthly job growth since the beginning of the year will average about 80k, surpassing the growth rate of job seekers, which has slowed due to aging populations and immigration restrictions.