US: Expect nonfarm payrolls to increase by 210k in Feb – Goldman Sachs

Analysts at Goldman Sachs offer a brief preview of today’s key US labor market report due to be reported at 1330 GMT.  

Key Quotes:

“We estimate that nonfarm payrolls increased 210k in February, 5k above consensus

The unemployment rate is seen at 4.0%

0.3% month-over-month increase in average hourly earnings and the year-over-year rate fell a tenth to +2.8%.

Warmer weather and unseasonably light snow during the survey week boosted job growth in the month.

Labor market fundamentals also appear solid and may have improved further, given new cycle records for initial claims and Conference Board job availability.”