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Thursday, June 02, 2022

Goldman May Payrolls Preview

by Calculated Risk on 6/02/2022 04:25:00 PM

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

We estimate nonfarm payrolls rose by 225k in May (mom sa), a slowdown from the +428k pace in both of the previous two months and below consensus of +323k. ... We estimate a one-tenth drop in the unemployment rate to 3.5%—in line with consensus
emphasis added
CR Note: The consensus is for 320 thousand jobs added, and for the unemployment rate to decline to 3.5%.