The world market is today looking forward to the Non Farm Payroll employment data component report which will be announced at 8.30pm tonight (Malaysian Time). This data is expected to decrease by the average economic analyst compared to the previous month as shown in the table below.
Friday, May 5, 2023
Non-Farm Employment Change
Expected Data:
181K
Previous Data:
236K
' EXPECTATIONS
However, compared to the above expectations, we expect the NFP data report tonight to be seen as positive compared to the previous data release. Please refer below our expectations.
Friday, May 5, 2023 Non Farm Employment Change Expected Data:
265K Previous Data:
236K
Our expectation is following the "Trend" report of the NFP employee data component that has shown some good growth rates as follows:
Manufacturing PMI : Up 47.1 compared to 46.3 last month
Construction Spending: Continued increase of 0.3% as last month 0.3%
JOLTS Job Opening : 59M compared to before 9.97M
Factory Orders : 9% compared to the previous month which decreased -1.1%
ADP Non Farm Employment Change : An increase of 296K compared to the previous month of only 142K
Continue Jobless Claim : Total unemployment 1.805M lower than the previous month 1.843M
Refer to the graph below for the pattern of increase in the total number of employees (Total Nonfarm Payroll). In February 2023 the number of workers is 155.333 million. For the month of March 2023 is 155.569 million people.
