9 March 2001, 15:42 MEDIAN FORECAST FOR US FEB PAYROLLS: +60,000; 4.3% RATE
WASHINGTON (MktNews) - Nonfarm payrolls are expected to rise 60,000
in February, a much smaller rise than January, as the manufacturing
sector continued to contract. Manufacturing payrolls are expected to
fall 25,000. The strong January gains in construction, services, and
government payrolls are not expected to be repeated in February. In the
case of construction jobs, which were boosted by special factors and the
weather, and government jobs, a partial reversal is expected. The
unemployment rate is expected to rise to 4.2%. The average workweek is
expected to be unchanged at 34.3, while hourly earnings should return
closer to trend in February with a 0.3% gain after a flat reading in
January.
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