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Goldman June Payrolls Preview

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%.

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