Category: Markets / Finance / April 2, 2013 4:53 PM EDT
The March payroll report is released on Friday, April 5, and investors will keep an eye on the unemployment rate and job numbers to see whether hiring maintained the momentum seen in February.
According to the Wall Street Journal, forecasters expect only a small deceleration in the change in nonfarm payrolls. The median forecast with a survey compiled by Dow Jones Newswires expects 200,000 jobs were created this month, on top of the 236,000 new hires in February, the Wall Street Journal said.
February’s unemployment numbers ticked down to 7.7 percent from January’s 7.9 percent rate. The March unemployment rate is expected to remain at 7.7 percent.
Market professionals will be eyeing the jobs report to see how the spending cuts that took effect on March 1 from the sequestration affected consumer spending, as well as employment.
Will the gauge of recent data and positive trends in the Dow and S&P 500 be enough to sustain growth in 2013? “The U.S. has generated a burst of job growth in each of the past two years, only to see hiring soften by midyear as key sectors of the economy faltered,” MarketWatch said.