US NFP NUMBERS ARE EXPECTED TO BREAK SHARP
Government data on Thursday showed US unemployment benefits fell last week to a 49-year low. The sharp decline in people who submit jobless claims is referred to as an indicator of high absorption in employment that will be reflected in the release of Non Farm Payroll (NFP) tonight.
The number of people who submitted new applications for unemployment benefits in the US for last week fell to multi-decade lows. This signals that conditions in the labor market may not be too bad amid a sharp decline in recent economic indicators.
The US Department of Labor reported Thursday that initial claims for unemployment benefits at the weekly rate until the end of March 30 fell by 10,000 to a total of 202,000. That was the lowest level since December 1969.
Previous analysts estimate for a claim of 216,000. For the previous week's data was revised up to 212,000.
Economists surveyed showed a median estimate of March's NFP of 172 thousand, far surpassing February's employment of only 20 thousand.