US NFP expected to rise by 750K in June – Goldman Sachs

Analysts at Goldman Sachs offer a sneak peek at what to expect from Friday’s US Nonfarm Payrolls (NFP) due for release at 1230 GMT.

Key quotes

“We estimate nonfarm payrolls rose 750k in June.” 

“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.”

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