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Goldman October Payrolls Preview

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A few brief excerpts from a note by Goldman Sachs economist Spencer Hill:
We estimate nonfarm payrolls rose by 225k in October (mom sa) … Labor demand remains elevated despite declining this year, and Big Data indicators generally point to above-consensus payroll gains. … We estimate the unemployment rate was unchanged at 3.5% in Octobe … We estimate average hourly earnings rose 0.35% month-over-month and 4.7% year-on-year.
emphasis added

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