Agenda: US non-farm payrolls, Halifax house prices
Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.
All eyes will be focused on the monthly US non-farm payrolls report, which will provide the latest snapshot of the health of the jobs market and wider economy.
This month’s report for March will be of particular interest, after February’s figures shocked with just 20,000 jobs created compared with the 180,000 forecast by economists.
The huge miss troubled investors and added to concerns about a global slowdown. Forecasters are expecting a much bigger number today, with payrolls expected to come in at 180,000. Another big miss in the figures this afternoon would reignite fears of a downturn.
Jasper Lawler from London Capital Group, says that although today’s report is likely to be “solid”, the underlying picture may be weaker:
A strong headline figure and solid wage growth will give investors a good distraction from economic slowdown fears. However, the fact is that the economy could be slowing, whilst the US labour market remains strong. This is because employment is a lagging indicator.
Today’s economic data:
- 8.30am BST: The UK lender Halifax publishes its house prices report for March
- 9.30am: The ONS will publish productivity data for the final quarter of 2018
- 1.30pm BST: US non-farm payrolls report and average earnings for March
We will also be looking at any Brexit-related market moves and all the biggest corporate news of the day.
Updated
