Goldman: April Payrolls Preview

A few brief excerpts from a note by Goldman Sachs economist Spencer Hill:

We estimate nonfarm payrolls increased 195k in April (vs. consensus of 190k), as lower jobless claims and resilient employment surveys suggest that the pace of job growth remains solid.. …

We expect an unchanged unemployment rate in tomorrow’s report (3.8%; consensus also expects 3.8%). … We estimate a 0.2% rise in average hourly earnings (mom sa) that leaves the year-over-year rate unchanged at 3.2%
emphasis added