Earlier:
Via Goldman Sachs preview:
We estimate nonfarm payrolls rose 250k in April
- above consensus of +182k but a slowdown from the +345k average pace of the last three months
- We believe high but falling labour demand more than offset continued layoffs in the information and financial sectors and a roughly 25k hiring drag from reduced credit availability
- We estimate the unemployment rate was unchanged at 3.5% (vs. consensus 3.6%), reflecting a modest rise in household employment
- unchanged labour force participation at 62.6%
nonfarm payrolls