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Having the least-correct forecast for April payrolls isn’t swaying Aneta Markowska, chief economist at Jefferies.
The US added just 266,000 payrolls last month, falling extremely short of the median economist estimate of 1 million jobs. Where experts were anticipating a strong pick-up in hiring through April, data suggests the easing of lockdowns did little to boost the labor market’s recovery.
No economist was as bullish heading into Friday as Markowska, who estimated the country had added 2.1 million payrolls. The forecast was 700,000 payrolls higher than the next top estimate and would’ve marked the strongest details ⇒
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