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Friday, 2 December 2022

Goldman with the note.

We estimate nonfarm payrolls rose by 175k in November (mom sa), a slowdown from the +261k pace in October and the +289k three-month average. We estimate private payrolls rose 150k (vs. consensus +188k).

Arguing for a weaker-than-expected report:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.