Goldman Sachs preview the US December Nonfarm payroll data due Friday
The NFP is due at 1330 GMT on Friday 5 January 2018
- The consensus median expectation for the headline is +190K
- (prior) November was +228K
Adam and I have posted previews up earlier:
- By the numbers: Non-farm payrolls preview for the Dec employment report
- US Nonfarm payroll data is due on Friday - here is a preview of what to expect
- Its Nonfarm Payroll day on Friday and never too early for a preview!
This now via Goldman Sachs (in brief summary).
- The GS expectation for the 'headline' is +175k
- Forecast a one-tenth fall in the unemployment rate to 4.0%
- Average hourly earnings +0.3% m/m & +2.5% y/y
- While labor market fundamentals appear solid, we expect a deceleration from the pace of job gains in October and November, which benefitted from a sharp employment rebound in hurricane-affected states.
- Our forecast also reflects a modest drag from winter storms around the December survey period.