But analysts at Nomura are forecasting the NFP print to come in below median estimates
They note that historically the ADP report has had a difficult time in capturing weather effects - pointing to last year when a weather payback resulted in a sharp miss on private payrolls (68k) but the ADP report had a reading of 263k.
That said, they argue that weather is likely to still play a part in March's reading but note that it did not play much of a factor in February - making the March report a bit difficult to interpret. So, if the latter is to go by they expect the ADP report to pose an upside risk to jobs report tomorrow too.
They forecast the NFP print to come in at 140k tomorrow, below the median estimate of 185k.
