US jobs report due Friday – Goldman Sachs preview the Nonfarm Payroll for January

A preview of the NFP from GS, but first a look at consensus expectations.

snapshot from the ForexLive economic data calendar,

it here


times in the left-most column are GMT.

numbers in the right-most column are the ‘prior’ (previous month)

number in the column next to that, where is a number, is what is the
consensus median expected.

nfp January 2022

Goldman Sachs’ estimate for the headline number us a drop of 250,000, well under the 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 monthWe estimate an unchanged unemployment rate of 3.9%—in line with consensus—reflecting likely declines in both household employment and labour force participation due to the virus wave.

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