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Goldman: March Payrolls Preview

Summary:
A few brief excerpts from a note by Goldman Sachs economist Spencer Hill:We estimate nonfarm payrolls declined 180k in March, below consensus of -100k....We estimate the unemployment rate rose three tenths to 3.8%, with risks skewed towards a larger increase (consensus 3.8%).…While we look for a weaker-than-consensus report tomorrow, the March employment numbers are already fairly stale and insignificant in our view, because the April report will likely show job losses in the millions.emphasis added

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A few brief excerpts from a note by Goldman Sachs economist Spencer Hill:
We estimate nonfarm payrolls declined 180k in March, below consensus of -100k.
...
We estimate the unemployment rate rose three tenths to 3.8%, with risks skewed towards a larger increase (consensus 3.8%).

While we look for a weaker-than-consensus report tomorrow, the March employment numbers are already fairly stale and insignificant in our view, because the April report will likely show job losses in the millions.
emphasis added

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