Goldman Sachs non - farm payroll preview (NFP)

Author: Eamonn Sheridan | Category: News

There is a preview of Friday's (7 August 2020 at 1230GMT) nonfarm payroll report here:

In brief comments via Goldman Sachs on what to expect:
  • We estimate nonfarm payroll growth slowed to +1.0mn in July
  • after +4.8mn in June (consensus is +1.5mn)
  • we believe education seasonality could boost July payroll growth by as much as 500-750k
  • We estimate the unemployment rate declined by 0.4pp to 10.7%

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