Goldman Sachs nonfarm payroll expectation +190K

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Goldman Sachs economists preview of the NFP report for July

GS cite their 'wage tracker' accelerating to 2.8% y/y, the acceleration indicating diminishing slack on the labour market

In brief:
  • Looking for a headline gain of 190K
  • Forecast unemployment rate remaining at 4.9%
  • For average hourly earnings, +0.3%, and up 2.6% over the past year
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The Bloomberg median consensus expectd is for 180K
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