Following a better-than-expected gain to start the year, Wells Fargo Securities estimates that the pace of nonfarm hiring remained strong in February, with employers adding 200,000 jobs.

 

They do not anticipate a virus-related impact on hiring to be discovered when the monthly data comes out as there has been nothing to suggest that a drag on the employment picture has yet to materialize.

"Secondary labor market indicators remain mixed, yet still show a labor market that remains healthy," the group's statement read. "Jobless claims fell in February, remaining low and consistent with a tight labor market. Job openings, however, have rolled over and small business hiring plans remain below last year's level."

The group expects the unemployment rate to fall back down to its 50-year low of 3.5% and that average hourly earnings will show an uptick of 0.3% in February, which would keep the year-ago rate at 3.0%.
In addition, 2020 Census hiring is beginning to pick up. In the past two Census years, there was an average of 21,000 a Census workers added in February.