SmartMarketData is forecasting an addition of 143K jobs in the BLS Non Farm Payrolls number tomorrow AM. We show a very slight improvement from the previous months' miss of 138K. Our forecast is at the low end of the Bloomberg range of 140K-200K, and well below the consensus of 170K.
Our Duration indicator declined again to 82 Days, down from 84 last month, and continues a downward trend since the beginning of the year. This suggests labor-slack continues to improve, albeit still at the high end.
Using LinkUp's® job database of near real time job postings from over 30,000 companies (https://www.smartmarketdata.com/linkup-raw), we did see a pronounced decline in Job Posts created during the survey period which would foreshadow continued declining NFP jobs in the near future.
