Bank of America Securities is projecting that the US economy added 110,000 nonfarm payroll jobs in June, a forecast published on June 29, ahead of the official Bureau of Labor Statistics employment report scheduled for July 2.
What’s behind the number
The 110,000 figure leans on three consecutive months of consistent job gains, moderate jobless claims data, and robust readings from the ADP private-payroll report.
The Fed rate hike calculus
According to Bank of America, if the jobs report comes in stronger than the 110,000 estimate, it could boost market odds of three Federal Reserve interest rate hikes within 2026.
