US: Expect a 0.3% m/m increase in average hourly earnings – Goldman Sachs

Goldman Sachs’ Analysts are out with their brief preview on what to expect from today’s US labor market report due to be released at 1230 GMT.

Key Quotes:

“We estimate nonfarm payrolls increased 200k.

While we believe elevated snowfall will cause job growth to decelerate from the +276k average pace in the prior two months.

Labor market fundamentals remain solid and appear to have improved further.

We estimate unemployment rate fell to 4.0% in March.

We estimate a 0.3% m/m increase in average hourly earnings (2.7% y/y) ... reflecting somewhat favorable calendar effects.”