Heading into Friday’s Non Farm Payrolls (NFP) report for January, economists are expecting an increase in payrolls of 190K, which would be a sizable decline from last month’s much better than expected reading of 292K. In the private sector, economists are expecting an increase of 180K, which would be a similar decline to what the consensus is expecting for the headline number. Economists are also forecasting the unemployment rate to remain unchanged at 5.0%. Growth in average hourly earnings is expected to come in at 0.3% after last month’s unchanged reading, while hours worked is forecast to remain unchanged at 34.5.
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