The U.S. Bureau of Labor Statistics will publish the NFP employment data report for April at the New York session shortly at 8.30pm local time.
Here are the projections and forecasts by analysts and economists from major banks regarding the employment data.
In general, the market would expect around 390,000 job additions in April, slightly down from the March reading. Meanwhile, the unemployment rate is expected to contract to 3.5% from 3.6% previously.
Commerzbank expects employment to increase to 350.00 for April and the unemployment rate to drop to 3.5%.
Similarly, Danske Bank which sees the unemployment rate drop to 3.5% while the increase in jobs will hover around the 400,000 reading.
Contrary to the views of Deutsche Bank and Societe Generale (SocGen) who forecast higher growth outpacing previous readings, which are on an increase to 465,000 and 475,000 jobs for April, respectively.
RBC Economics is projecting an increase to 400,000 jobs while Westpac saw an increase in jobs in April to a level of around 425,000.
The NBF is of the view that employment in the U.S. will rise to 375,000 in April after assessing the unemployment claim rate and the household income survey.
Citibank expects a slow increase to 360,000 in April which will give an indication of the issue of labor shortages.
Wells Fargo and Goldman Sachs each updated their April NFP employment projections at the same figure at 300,000.
