U.S. unemployment rate likely to tick down one notch to 5.6%
Today the focus will be on the US employment report and analysts expect the job growth of 235,000 in February, this is a slower pace than in the past six months but still solid. Danske Bank notes in a report on Friday: W…
Today the focus will be on the US employment report and analysts expect the job growth of 235,000 in February, this is a slower pace than in the past six months but still solid.
Danske Bank notes in a report on Friday:
We expect the unemployment rate to tick down one notch to 5.6%. The details of the report will be important to watch - in particular, average hourly earnings, which rebounded in January.
A further acceleration in hourly earnings suggests that wage inflation is picking up.
For some FOMC members, this is an important signal ahead of a rate increase, although we expect the most important members of the committee to be less focused on wage inflation when judging the right time for lift-off.
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