Thursday, May 03, 2018

Goldman: April Payrolls Preview

by Bill McBride on 5/03/2018 03:35:00 PM

A few brief excerpts from a note by Goldman Sachs economists Daan Struyven and Spencer Hill:

We expect a 180k increase in nonfarm payroll employment in April, slightly below consensus expectations for a 190k gain. Most labor market indicators decelerated somewhat, and we don’t expect a meaningful weather rebound (relative to trend).

... the unemployment rate likely fell to 4.0% in April. Average hourly earnings likely rose 0.2% in April, reflecting somewhat unfavorable calendar effects, and 2.6% over the past year. ...
emphasis added