NFP: We expect payrolls to rise to 190K - Wells Fargo

On Friday, the US official jobs report will be released. Analysts from Wells Fargo, expect that payrolls, to have risen to 190K. 

Key Quotes: 

“Nonfarm payrolls rose by an average of 178,000 jobs per month in the first quarter, but atypical weather and a late Easter holiday led to sizeable monthly swings. After increasing by more than 200,000 jobs in January and February, hiring slowed to 98,000 in March. With seasonal effects expected to play less of a role in April, we expect payrolls to have risen a more trend-like 190,000.”

“Jobless claims fell both over the survey week and on a four-week average basis in April, consistent with fewer layoffs, while hiring plans edged up in March. After an unusually large drop in the number of workers reported as unemployed in March, we expect the unemployment rate to tick up to 4.6 percent in April, although the trend remains downward.”