The US Bureau of Labor Statistics is set to release preliminary revised figures on non-farm payrolls for the year ending in March. Morgan Stanley analyst Daniel Silver anticipates that job growth will be weaker than the current data suggests, with total employment expected to be revised down by nearly 500,000, reflecting a reduction of approximately 40,000 jobs per month over the twelve-month period.
However, even with this downward revision, average employment growth is expected to remain robust at around 300,000 jobs per month.
As a result, the revised data might not have an immediate impact.
Oscar Munloz, Chief US Macro Strategist at TD Securities, stated, “While we expect the initial estimates from the Bureau of Labor Statistics to show that job growth was not as strong as initially reported, the revisions are unlikely to be large enough to suggest a significant shift in labor market conditions.”
