Goldman March Payrolls Preview

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

We estimate nonfarm payrolls rose 775k in March … Big Data employment signals also indicate a pickup in job growth, and we expect a favorable swing in the weather to support construction employment following weakness in February. … We estimate a three-tenth decline in the unemployment rate to 5.9%‚Äč.
emphasis added

CR Note: The consensus is for 565 thousand jobs added, and for the unemployment rate to decrease to 6.0%.