BofAML economists already are forecasting a big upside surprise. They see job expansion of 250,000 jobs, ahead of the current Dow Jones estimate of 196,000
The April jobs report could come with a big surprise for the economy if an estimate from Bank of America Merrill Lynch pans out.
The number actually could turn out even bigger: A tracker that the bank uses is seeing private payrolls rising 335,000. If the BofAML forecast, from U.S. economists Joseph Song and Michelle Meyer, is correct, that would take the average monthly job gains this year to about 198,000. The year has seen volatile monthly job gains, with increases as big as the January boom and as low as 33,000 in February.
The Duke report for March — the most recent results in the quarterly survey — indicated expected employment growth of 4.6% over the next 12 months, well ahead of the 3% forecast in March 2018 and the 3.6% projected from December 2018.
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