US: Non-Farm Payrolls to see a fall of 24 mln in April – Goldman Sachs

Analysts at Goldman Sachs offer their estimates on the US Non-Farm Payrolls (NFP) data release due later on Friday at 1230 GMT.

Key quotes

“Non-Farm Payrolls declined by 24 million in April.

Unemployment rate rose from 4.4% to 14.0%.

In interpreting the report, we will pay special attention to the number and share of workers on furlough or temporary layoff.”