December Payrolls Preview: Another Labor Bureau Stunner On Deck?

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by Tyler Durden
Friday, Jan 06, 2023 - 10:55 AM

As discussed earlier, the rate of payrolls growth is expected to cool (modestly in December, much more in Q1), with the street looking for the addition of 202k nonfarm jobs in December, which would be beneath the prior 263k rise as well as recent averages.

A couple quick points here: as Jim Bianco pointed out economists have consistently underestimated payrolls in 2022 and as shown below, the (first release) of the payrolls report has consistently beaten the median estimate for the past 8 months and 11 of the past 12.