Summary
- Goldman Sachs said it expects December U.S. employment indicators to be stronger than market consensus.
- An increase in nonfarm payrolls and a decline in the unemployment rate are predicted, highlighting the resilience of the U.S. labor market.
- Although employment in the construction and government sectors may slow, it said that overall, despite concerns about an economic slowdown, the fundamental strength of the labor market is being maintained.
Goldman Sachs expects December U.S. employment indicators to exceed market consensus.
On the 5th (local time), according to the economic news channel Walter Bloomberg, Goldman Sachs forecast that nonfarm payrolls will increase by 70,000 in December, which exceeds the market expectation of a 54,000 increase. It also predicted that the unemployment rate will fall to 4.5%.
However, in detail, it analyzed that private sector employment growth will continue at a moderate pace, and construction sector employment may slow. Conversely, due to adjustments for federal government furloughs, government employment is expected to decrease by about 5,000.
Goldman Sachs said that overall the labor market remains resilient, and despite short-term concerns about an economic slowdown, the fundamental strength of the U.S. labor market is being maintained.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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