Latest News

Goldman July Payrolls Preview

A few brief excerpts from a note by Goldman Sachs economist Spencer Hill:
We estimate nonfarm payrolls rose 1,150k in July … Labor supply constraints eased further due to the wind-down of federal unemployment top-ups in some states and the addition of over 2 million youth job seekers in June and July. … We estimate a 0.4pp drop in the unemployment rate to 5.5% (vs. consensus 5.7%), reflecting a strong household employment gain offset by a sizable rise in the participation rate.
emphasis added
CR Note: The consensus is for 900 thousand jobs added, and for the unemployment rate to decrease to 5.7%.

What is your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:Latest News