Blowout payrolls?

Sourced from SEEKING ALPHA‘s Wall Street Breakfast released today:

Another stellar non-farm payrolls report is likely on tap this morning, with the Labor Department set to release numbers for April at 8:30 a.m. ET. Non-farm payrolls are forecast to have increased by 978,000 in April, following a 916,000 jump in March, which marked the largest increase since last August. The unemployment rate is meanwhile expected to have slipped slightly to 5.8%, from 6% last month, driven by re-opening activity, a broad vaccine rollout and financial help from the federal government.

Some are even more optimistic (…). Given inflated prices, supply concerns and logistical logjams, the main economic concern right now is, ironically, enough workers to keep up with rising demand. “We know per recent qualitative data that companies are starved for employees at the moment. We can see that in both ISM reports (manufacturing and services) as well as in the Fed’s Beige Book,” wrote economists at RBC Capital Markets. “Moreover, we know that continuing claims (not-seasonally adjusted) made a sizable improvement when measured between the payroll survey weeks, and that underpins our forecast.”

To read the full post, please click here (free reg. is required).

Now please read this: “April’s expected hiring boom goes bust as nonfarm payroll gain falls well short of estimates“.