US non-farm payrolls data due imminently – the critical key ranges for estimates to watch

I posted this info earlier, during the Asian timezone. But now its getting close to data time!

Due at 8.30 am US Eastern time, which is 1230 GMT.

You can see the consensus estimate in the screenshot below:

• The number in the right-most column is the ‘prior’ (previous month) result.
• The number in the column next to that, where there is a number, is the consensus median expected.

• This snapshot from the ForexLive economic data calendar, access it here.

Taking a look at the range of expectations compared to the median consensus (the ‘expected’ in the screenshot above) for the key data points:

Headline NFP number:

• 70,000 to 220,000

Unemployment rate:

• 4.1% to 4.3%

Average hourly earnings m/m:

• 0.2% to 0.4%

Average hourly earnings y/y:

• 3.7% to 3.9%

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Why is knowledge of such ranges important?

Check out the post earlier for an explanation of this if you need.

This article was written by Eamonn Sheridan at www.forexlive.com.