Goldman Sachs nonfarm payroll preview
Here is a quick preview from Goldman Sachs of the non-farm payroll report due in the US on Good Friday.
- GS "expect nonfarm payroll job growth of 220k in March
- below the consensus forecast of 245k", which is "a downward revision from our previous estimate of 240K"
- "labor market indicators were generally flat or weaker in March, suggesting payroll growth somewhat below the recent trend
- We expect the unemployment rate to remain unchanged at 5.5%
- Average hourly earnings to rise 0.2%, roughly in line with the recent trend rate of wage growth"
- "in March, most labor market indicators were flator weaker, suggesting payroll growth somewhat below the recent trend"
OK, so that's what GS is thinking ... more previews:
and here: How the market will react to an NFP miss