6 Mar 2015
US labour report to set the tone for the markets over the coming week – ING
FXStreet (Barcelona) - Economists at ING, comment on the shift in the US labour market, and further add that the US data release today will set the tone for the markets for the week ahead.
Key Quotes
“The outcome of the February US labour report will set the tone for financial markets over the coming week. In general, we think it will be a positive release as payrolls gains should come in around the 260,000 mark, unemployment will likely return to 5.6% and there may be more sign of a pick-up in pay.”
“The pool of available labour continues to shrink so firms increasingly have to hire from other companies and organisations in order to get workers with the right skill-sets. This means that turnover in the labour market is rising with firms increasingly reporting issues about staff retention.”
“Therefore, we are moving from an environment where firms didn’t feel the need to offer higher pay to one where it is a growing requirement to pay more in order to keep staff.”
Key Quotes
“The outcome of the February US labour report will set the tone for financial markets over the coming week. In general, we think it will be a positive release as payrolls gains should come in around the 260,000 mark, unemployment will likely return to 5.6% and there may be more sign of a pick-up in pay.”
“The pool of available labour continues to shrink so firms increasingly have to hire from other companies and organisations in order to get workers with the right skill-sets. This means that turnover in the labour market is rising with firms increasingly reporting issues about staff retention.”
“Therefore, we are moving from an environment where firms didn’t feel the need to offer higher pay to one where it is a growing requirement to pay more in order to keep staff.”