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23 Feb 2016
US payrolls tracking, so far so good besides manufacturing - Nomura
Analysts at Nomura, using a number of data inputs, are tracking the private payrolls for February in the US.
Key Quotes:
"February Private Payrolls Tracking: 227k The labor market differential from the Consumer Confidence report for February came in broadly in line with our assumption at -2.1."
"As such, our February Private Payrolls Tracking estimate remains unchanged at 227k. There are limited signs that the weakness from the manufacturing sector is spilling over into the broader labor market. Initial and continuing claims remain low and labor market indicators excluding the manufacturing sector have been coming in line with our assumptions."
Key Quotes:
"February Private Payrolls Tracking: 227k The labor market differential from the Consumer Confidence report for February came in broadly in line with our assumption at -2.1."
"As such, our February Private Payrolls Tracking estimate remains unchanged at 227k. There are limited signs that the weakness from the manufacturing sector is spilling over into the broader labor market. Initial and continuing claims remain low and labor market indicators excluding the manufacturing sector have been coming in line with our assumptions."