Analysts at Goldman Sachs predict a strong US NFP report for April, with their expectations highlighted below.
Key quotes
“Estimate nonfarm payrolls rose 1,300k in April (m/m sa).”
“Estimate a five-tenths decline in the unemployment rate to 5.5%, reflecting rapid job gains partially offset by an expected rise in the participation rate.”
“Estimate a flat monthly reading for average hourly earnings … due to negative composition and calendar effects; coupled with the anniversary of the spring 2020 lockdowns, we estimate the year-on-year rate will plummet from +4.2% to -0.4%.”
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