A reversal of the earlier boost from unseasonably mild December weather probably weighed on non-farm payroll growth in January. We expect a more muted 150,000 increase. The annual benchmark revisions should also show a weaker pace of employment growth last year than previously thought. Meanwhile, we expect the recent upturn in average hourly earnings growth to have faded with a softer 0.3% m/m rise.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services