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Goldman October Payrolls Preview

A few brief excerpts from a note by Goldman Sachs economist Spencer Hill:
We estimate nonfarm payrolls rose 500k in October, below consensus of 600k. High-frequency labor market information indicates further deceleration in job growth, consistent with a drag from the virus resurgence and fiscal fizzle. ...

We estimate the unemployment rate declined by two tenths to 7.7%.
emphasis added
CR Note: The consensus is for 600 thousand jobs added, and for the unemployment rate to decrease to 7.6%.

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