U.S. employment report preview: Jobs growth resurgent in April
WEEKLY MARKET COMMENTARY |
We expect a change in total U.S. employment of 202,000 jobs in April that will be accompanied by a decline in the unemployment rate to 4 percent. The seasonal inspired slowdown in March should trigger an above-trend payback in April. From our point of view, the major economic narrative that merits sustained attention is a historically tight labor market and the growing probability that it will elicit a substitution of technology for human workers.