Taking the Under, once again, on NFP

I am once again taking the Under on the Economist’s consensus of 185,000 increase in payroll jobs. I still believe the April data was an outlier.

A weak number plays right into the camp that the Fed should finish tightening soon. A strong number might be more perplexing, as it supports the "Soft Patch" argument, but counters the "Fed needs to stop" crowd.

My wildly unscientific seat-of-the-pants guess is for 137,000 new jobs.

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