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This Friday, we get the always-anticipated May employment situation report from the Bureau of labour Statistics.According to economists surveyed by Bloomberg, we could expect around 150k new nonfarm payrolls. The consensus range is 95k to 206k.
However, some of the inputs to the econometric models suggest the number might come in much lower.
Art Cashin notes it in today’s Cashin’s Comments:
Payroll Puzzles – Some of the recent regional ISM releases do not bode well for payrolls on Friday. One or two are thought to suggest numbers under 50,000. That would stun markets, I assume.
Luckily, other regional ISMs do not confirm that negative projection. We’ll try to get some smart folks to opine.