Goldman Sachs forecasts for the US jobs market data due Friday, 1 September 2023:
We estimate nonfarm payrolls rose by 149k in August
- our forecast embeds a 26k one-time drag from thee combination of Hollywood worker strikes (-18k) and Yellow trucking layoffs (-8k)
We estimate that the unemployment rate was unchanged at 3.5%, in line with consensus
- reflecting a modest rise in household employment and unchanged labor force participation (at 62.6%)
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