Goldman December Payrolls Preview

A few brief excerpts from a note by Goldman Sachs economist Spencer Hill:

We estimate nonfarm payrolls declined 50k in December … most of the Big Data employment signals we track indicate an outright decline in payrolls. Additionally, restaurant seatings fell back to July levels, and initial claims rose for the first time since April. … We estimate the unemployment rate rebounded a tenth to 6.8%
emphasis added

CR Note: The consensus is for 70 thousand jobs added, and for the unemployment rate to increase to 6.8%.