Goldman Sachs non-farm payroll preview – the underlying labor market stays strong

Goldman Sachs NFP preview:

• We estimate non-farm payrolls rose by 190ok in January, above consensus of +170ok and the three-month common of +170ok.
• Various measures of employment progress indicated a wholesome tempo of job creation, and the tempo of layoffs—a key determinant of web job progress in January—remained subdued.
• Unemployment price estimated to stay unchanged at four.1%
• Common hourly earnings (AHE) anticipated to rise zero.three% m/m
• Benchmark revisions might cut back cumulative job progress by 818ok (Apr 2023 – Mar 2024).
• 300-500ok unauthorized immigrants will probably be inaccurately faraway from payroll data, making the downward revision deceptive

Earlier preview right here:

• January non-farm payrolls preview by the numbers: Optimistic indicators abound

This text was written by Aaron Cutchburt at www.ubaidahsan.com.



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