A few brief excerpts from a note by Goldman Sachs economist Spencer Hill:
We estimate nonfarm payrolls declined by 250k, 400k below consensus of +150k. Our forecast reflects a large and temporary drag from Omicron on the order of 500-1000k, as survey data indicate a surge in absenteeism during the month … We estimate an unchanged unemployment rate of 3.9%—in line with consensus—reflecting likely declines in both household employment and labor force participation due to the virus wave.
emphasis addedCR Note: The consensus is for 155 thousand jobs added, and for the unemployment rate to be unchanged at 3.9%.
Turkey formally approves Finland’s NATO membership, in setback for Russia
Turkish President Recep Tayyip Erdogan (R) and Finnish President Sauli Niinisto (L) deliver a joint press conference held after their...
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