Goldman Sachs explain the NFP miss - blaming laziness
The US nonfarm payroll report on Friday was an epic miss on estimates.
Consensus was for around an addition of a million jobss.
GS was above consensus, circa +1.3million if memory serves.
The number (let's get another drum roll ICYMI):
Goldman Sachs explain the miss by blaming laziness, sSaying that the labor supply appears to be tighter than the unemployment rate suggests
- likely reflecting the impact of unusually generous unemployment benefits and lingering virus-related impediments to working.
'Unusually generous unemployment benefits.' I'm calling b/s on that. But, there you go.
Rock on GS: