by Calculated Risk on 7/07/2022 03:48:00 PM
A few brief excerpts from a note by Goldman Sachs economist Spencer Hill:
We estimate nonfarm payrolls rose 250k in June … employment surveys and Big Data employment indicators generally weakened in the month, and the Challenger report showed an increase in job cuts–particularly in real estate, autos, and media. … We estimate an unchanged unemployment rate at 3.6%–in line with consensus–reflecting a solid rise in household employment offset by a 0.1pp rise in labor force participation to 62.4%.
emphasis added
emphasis added
CR Note: The consensus is for 270 thousand jobs added, and for the unemployment rate to be unchanged at 3.6%.
