Tomorrow, we get official numbers on how many jobs the U.S. economy created in April.
The median estimate among market economists surveyed by Bloomberg is for 140,000 new nonfarm payrolls, up from last month's dismal 88,000 figure.
Private payrolls are expected to come in at 151,000, implying an 11,000-head reduction in government employment last month.
ADP's monthly employment report released Wednesday estimated that only 119,000 new private payrolls were added in April, well below consensus estimates for a 150,000 print.
On the other hand, we've seen some fantastic improvement in the trend in initial jobless claims over the past few weeks. Thursday's weekly claims release revealed that initial claims fell to 324,000 in the week ended April 27, notching a new post-crisis low.
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