SALOMON ECONOMIST SAYS MARCH US PAYROLLS COULD JUMP 625,000
09:55 EST 03/24 --Other Payroll Estimates Also Coming in Over 300,000
By Joseph Plocek
WASHINGTON (MktNews) - Salomon Smith Barney estimates U.S. March payrolls could post an outsized gain of 625,000, more than making up for the anemic growth of just 43,000 jobs in February.
SSB economist Chris Weegan confirmed to Market News International that the firm sees several factors boosting payrolls to a gain of +625,000 in March. The reasons include a 140,000 jump in census workers hired by the federal government, a bounceback from the small February payroll gain, a good +75,000 gain in manufacturing jobs as compared to their recent movements in the 10,000 to 15,000 area, and the unusually long 5-week survey period.
Even if March payrolls should be read in the context of a still strong economy, he said, as companies fretfully search for qualified workers.
Most other shops have preliminary March payroll estimates in the +300,000s. |
