The unemployment rate will be published by the Bureau of Labor Statistics this Friday, Feb. 3rd. Alongside with unemployment, Average Hourly Earnings and Change in Nonfarm Payrolls will also be reported.
Estimize consensus:
Unemployment rate: 4.7%
Average Hourly Earnings: 0.2%
Change in Nonfarm Payrolls: 177k
The analysts at Estimize are anticipating a relatively small change in all three indicators from last month. According to the consensus, the unemployment rate will remain unchanged from last month at 4.7%. That’s down from 10% during the depths of the recession in late 2009.
Average Hourly Earnings are predicted to have small drop (0.2%) as well from last month, to 0.2%.
In addition, the change in Nonfarm Payrolls is expected to show an increase to 177k from 156k in December.
This will be the last employment report to reflect the Obama administration, and a first glimpse into the new Trump administration. Current projections have the labor market tightening, making it unlikely there will be any further reductions in the unemployment rate. Many forecasts expect relatively small change in jobless rate, which is currently at 4.7%.
Leave A Comment