The Non-farm payroll employment increased by just 126,000 in March, as employers in US added fewest workers since December 2013. The unemployment rate was unchanged at 5.5 percent and the number of unemployed persons was little changed at 8.6 million.
What's interesting is almost every economist at major banks were way off in their forecast expectations versus actual numbers. See below:
1) Morgan Stanley: 195k
2) Goldman:220k
3) SEB: 240k
4) Deutsche Bank: 225k
5) ING: 240k
6) BNPP:260k
7) Credit Suisse: 240k
8) JP Moragn: 250k
9) Nomura: 225k
10) RBS: 238k
11) UBS: 260k
12) Citi: 220k
13) Barclays: 250k
14) Credit Agricole: 260k
15) BofA Merrill: 270k
16) RBC: 188k
What's interesting is almost every economist at major banks were way off in their forecast expectations versus actual numbers. See below:
1) Morgan Stanley: 195k
2) Goldman:220k
3) SEB: 240k
4) Deutsche Bank: 225k
5) ING: 240k
6) BNPP:260k
7) Credit Suisse: 240k
8) JP Moragn: 250k
9) Nomura: 225k
10) RBS: 238k
11) UBS: 260k
12) Citi: 220k
13) Barclays: 250k
14) Credit Agricole: 260k
15) BofA Merrill: 270k
16) RBC: 188k