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Thursday, April 01, 2021

Goldman March Payrolls Preview

by Calculated Risk on 4/01/2021 03:50:00 PM

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

We estimate nonfarm payrolls rose 775k in March ... Big Data employment signals also indicate a pickup in job growth, and we expect a favorable swing in the weather to support construction employment following weakness in February. ... We estimate a three-tenth decline in the unemployment rate to 5.9%​.
emphasis added
CR Note: The consensus is for 565 thousand jobs added, and for the unemployment rate to decrease to 6.0%.