Goldman Sachs thinks the surprisingly lackluster April jobs report could be partially explained on the generosity of Uncle Sam. “We see two partial explanations for the payrolls disappointment. First, reopening effects likely overlapped with normal seasonal hiring patterns, resulting in less-impressive job gains on a seasonally-adjusted basis. Second, labor supply appears to be tighter than the unemployment rate suggests, likely reflecting the impact of unusually generous unemployment… Source link
Read More »Unusually ‘generous’ unemployment benefits weighing on job market rebound: Goldman Sachs
