Market Insider

What to expect in Friday's jobs report

Construction workers are seen at a new building site in Silver Spring, Maryland.
Gary Cameron | Reuters

Wall Street's looking for a solid January jobs report, even better than economists are forecasting.

Economists expect to see 175,000 nonfarm payrolls, with the unemployment rate steady at 4.7 percent and a smaller pickup in wages of 0.3 percent, according to Thomson Reuters.

"I'm looking at 190,000 based on the magnitude of the increase in ADP, combined with the rebound in small firm hiring. I think there's some upside risk to that," said Ward McCarthy, chief financial economist at Jefferies.

The report is the first monthly employment report since President Donald Trump took office.