by Calculated Risk on 7/01/2021 04:39:00 PM

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

We estimate nonfarm payrolls rose 750k in June (mom sa) ... Coupled with very strong labor demand and continued progress on vaccinations and reopening, we believe job growth probably picked up further in the month. ... We estimate a two-tenths drop in the unemployment rate to 5.6%, reflecting a strong household employment gain but a further rise in the participation rate.
emphasis added

CR Note: The consensus is for 675 thousand jobs added, and for the unemployment rate to decrease to 5.6%.