Market Insider

Markets look for a surprise in the March jobs report

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The stocks that surge—and sink—on jobs Friday

Economists are forecasting that a healthy 205,000 jobs were created in March, but the numbers may not add up as expected.

Key in Friday's March employment report will be average hourly wages, expected to rise 0.3 percent and the labor participation rate, which has been edging up since October. Unemployment is expected to hold steady at 4.9 percent.

But what's been making the rounds in the bond market is the fact that in seven of the past eight years, the government's first print of March payroll data has significantly missed the mark, falling below the consensus of Wall Street economists by a wide margin. Talk of this trend came as Treasury yields Thursday hit their lowest level in more than a month. The U.S. 2-year note was yielding 0.729 percent, and the 10-year was at 1.77 percent.