Bank of America Global Research previews the US April jobs report on Friday.

"After job growth came in above all expectations in March, we look for April NFP to print at a solid 80k (private: 90k), which would be comfortably above breakeven. Education & health will continue to lead job gains. With claims remaining benign and the weekly ADP data inflecting upwards, risks are tilted to the upside," BofA notes.

"We expect the u-rate to remain at 4.3%, with risk of rounding down to 4.2% along with LFPR at 61.9%. A 4.3% or lower u-rate would leave the Fed comfortably on hold in the near term amid rising inflation risks," BofA adds.