Thursday, May 07, 2020

Goldman April Payrolls Review

by Calculated Risk on 5/07/2020 05:23:00 PM

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

We estimate nonfarm payrolls declined by 24 million in April.
...
We estimate the unemployment rate rose from 4.4% to 14.0%.

In interpreting tomorrow’s report, we will pay special attention to the number and share of workers on furlough or temporary layoff.
emphasis added