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Goldman Sachs preview of the US nonfarm payroll (NFP) report due Friday, 6 January 2023

tradingfxdaily by tradingfxdaily
January 6, 2023
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Goldman Sachs preview of the US nonfarm payroll (NFP) report due Friday, 6 January 2023
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US jobs data is due at 0830 New York time.

Earlier:

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Snippet from Goldman Sachs, estimates:

  • headline nonfarm payrolls +225k
  • unemployment rate unchanged at 3.7%
  • 0.35% increase in average hourly earnings
  • year-on-year rate to 4.95%

JP Morgan take a wider look:

  • payroll growth to slow to an average of about 60K per month in Q1 2023
  • turning negative in Q3 this year
  • peak-to-trough job losses of over 1 million workers through 2Q24 as the US economy slips into a mild recession
  • This
    snapshot from the ForexLive economic data calendar, access
    it here
    .
  • The
    times in the left-most column are GMT.
  • The
    numbers in the right-most column are the ‘prior’ (previous
    month/quarter as the case may be) result. The number in the column
    next to that, where there is a number, is the consensus median
    expected.
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