Job growth is on the verge of a surge.  It may be awhile before we see that surge. 

[ by Melanie Gretchen ]

Jan Hatzius, Goldman Sachs chief economist, cautions against over-optimism and dashes water on analysts with great expectations on job growth. 

To date, employment in April, and hiring in February and March, surpassed expectations, according to the Labor Department's nonfarm payrolls report.  And, although growth was largely in lower-wage occupations, the hourly wage rose.  But those improvements may be short-lived, Ms. Hatzius said, citing negative effects from fiscal policy and the payroll tax increase waning over the longer term.

"Overall numbers—if you look not just at today's report but in general what has come out over the last couple of months—suggest pretty muted growth."

Delayed Reaction. The sequester, that went into effect after the federal government reached a stalemate on the federal budget for 2013, had been expected to impact payroll statistics.  However, the effect has been rather muted, to date.  Ms. Hatzius nevertheless expects to see more of an impact in subsequent months.

Until 2014, he said, the industry should focus on the strength of the private sector, which is much healthier than the lackluster headline numbers, including gross domestic product and unemployment, would indicate.

For further details, go to [CNBC, 5/3/13].