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Wednesday, July 03, 2019

Goldman: June Payrolls Preview

by Calculated Risk on 7/03/2019 03:45:00 PM

A few brief excerpts from a note by Goldman Sachs economist Spencer Hill:

We estimate nonfarm payrolls increased 175k in June, somewhat above consensus of +162k …

We estimate the unemployment rate rebounded a tenth to 3.7% (vs. consensus 3.6%), mirroring the rise in continuing claims. … We estimate that average hourly earnings growth narrowly rounded up to +0.4% in June (consensus +0.3%), which would boost the year-on-year rate by one tenth to +3.2% (consensus also +3.2%).
emphasis added