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Goldman May Payrolls Preview

A few brief excerpts from a note by Goldman Sachs economist Spencer Hill:
We estimate nonfarm payrolls rose by 225k in May (mom sa), a slowdown from the +428k pace in both of the previous two months and below consensus of +323k. … We estimate a one-tenth drop in the unemployment rate to 3.5%—in line with consensus
emphasis added
CR Note: The consensus is for 320 thousand jobs added, and for the unemployment rate to decline to 3.5%.

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