Goldman May Payrolls Preview

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

We estimate nonfarm payrolls rose by 225k in May (mom sa), a slowdown from the +428k pace in both of the previous two months and below consensus of +323k. ... We estimate a one-tenth drop in the unemployment rate to 3.5%—in line with consensus
emphasis added

CR Note: The consensus is for 320 thousand jobs added, and for the unemployment rate to decline to 3.5%.