Investors are waiting patiently for tomorrow's employment situation report released by the Bureau of Labor Statistics.
All eyes will be on the nonfarm payrolls report in the U.S., with consensus calling for the addition of 150,000 net jobs in May.
Everyone has an opinion on what will drive that figure, either up or down (even Business Insider weighs in, with a projection for 130,000 new jobs).
We rounded up 12 of the top U.S. economists' predictions.
Nomura: +95,000
"Measures of consumers manufacturers’ sentiment reveal heightened anxiety about the outlook and we suspect this translated into hiring plans put on hold in May. The winter months in the US were exceptionally warm by historical standards. We find that when winter weather is warmer than average – and hiring occurs earlier than usual – payback, i.e., fewer jobs than usual, is concentrated in the May employment report. Historically, excessively warm January-April periods are associated with downsize surprises to nonfarm payrolls estimates."
— Ellen Zentner, Nomura
Jefferies: +135,000
"Private payroll growth has benefited from small and medium-sized business hiring. Large firms have not been hiring to any significant degree. Small and medium size firm hiring in the ADP data has been disappointing March, April and May."
— Ward McCarthy, Jefferies
Bank of America Merrill Lynch: +140,000
"We expect non-farm payrolls to increase 140,000 in May and the unemployment rate to increase to 8.2% from 8.1%."
— Ethan Harris, Bank of America Merrill Lynch
See the rest of the story at Business Insider
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