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Thursday, March 05, 2020

Goldman: February Payrolls Preview

by Calculated Risk on 3/05/2020 04:32:00 PM

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

We estimate nonfarm payrolls increased 195k in February ... a 20-30k boost from weather … too early to show a meaningful impact of the coronavirus outbreak on hiring.

We estimate a one tenth decline in the unemployment rate to 3.5% ... We estimate average hourly earnings increased 0.3% month-over-month …
emphasis added