Goldman Sachs on Friday's NFP from the snowy swamp capital of the US

(Looks like snow for Washington DC may make the release more exciting than usual:

Nonfarm Payroll report due Friday morning US time .... will it be a snow job? )

From GS:

  • Forecast is at a gain of 180K jobs
  • For unemployment rate, GS is at 4.7%
  • Average hourly earnings, looking for +0.3% m/m and +2.8% y/y

Say Goldman Sachs:

  • Forecast for steady payroll gains
  • Reflects encouraging labor market surveys overall
  • As well as our expectation of above-trend growth in the transportation industry related to strong online holiday shopping

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While I'm on the NFP, here are the Bloomberg consensus median expectations for the December result:

  • Headline 175K (prior was 178K)
  • unemployment rate 4.7% (prior 4.6%)
  • Average hourly earnings +0.3% m/m (prior -0.1%) and +2.8% y/y (prior +2.5%)