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March Employment Report Preview

The Bureau of Labor Statistics (BLS) of the U.S. Department of Labor will release its always widely anticipated Employment Situation report for March 2015 on Friday, April 3, 2015. April 3, 2015, is Good Friday, and as a result, U.S. (and many European) equity markets will be closed, although the U.S. bond market will be open in the morning to allow markets to react to the report. As of March 30, 2015, the consensus of economists (as surveyed by Bloomberg News) is expecting the economy to add 250,000 net new jobs in March 2015, following the 295,000 gain in February 2015, and the average gain of 275,000 per month in the 12 months ending in February 2015. The consensus is looking for the unemployment rate to remain at 5.5% and for growth in average hourly earnings — the best proxy for wages in this report — to accelerate to 2.1% year over year from the 2.0% year-overyear gain posted in February 2015. As always, the members of Federal Reserve’s (Fed) policymaking arm, the Federal Open Market Committee (FOMC), will be watching the report closely, especially the wage readings, as it deliberates on when to begin raising rates. (Please see our Weekly Economic Commentary, “Forecast for Clear Skies: LEI Shows Low Odds of Recession,” from March 23, 2015, for more details on what the FOMC is watching.) Read Entire Article…

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Written by: LPL Financial Research

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