Thursday, March 04, 2021

Goldman February Payrolls Preview

by Calculated Risk on 3/04/2021 04:05:00 PM

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

We estimate nonfarm payrolls rose 225k in February ... the severe winter storms in the South probably struck too late to significantly affect the report ... We estimate an unchanged unemployment rate of 6.3%, reflecting a solid expected rise in household employment offset by a rebound in labor force participation.
emphasis added
CR Note: The consensus is for 148 thousand jobs added, and for the unemployment rate to increase to 6.4%.