The April jobs picture could be better than current Wall Street expectations, according to Goldman Sachs economists.
That’s despite a report Wednesday indicating that companies added the fewest jobs in three years. Private payrolls grew just 156,000 in April, well below the economist consensus of 195,000, according to payroll services firm ADP and Moody’s Analytics.
Goldman experts, however, were unswayed by the ADP disappointment. The firm expects Friday’s nonfarm payrolls report to show growth of 240,000, well above the Street expectation for 200,000 and an upward revision to Goldman’s already bullish call for 225,000.
The reason: A separate report from the Institute for Supply Management that showed gains in the employment index.
via CNBC
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.