CS cuts Payrolls estimate

Market news

1 June 2011

CS cuts Payrolls estimate

Analysts at CS cut non-farm payrolls data forecast, saying "We are lowering our nonfarm payroll estimate to 120K (from 185K) and our private payroll estimate to 135K (from 200K). The ADP figures were significantly different than our prior forecasts. ADP has been weaker than the official private payrolls 12 of the last 14 months, so the BLS number is likely to print above ADP."

SMRA have cut preliminary May payroll estimate to +100,000 from +200,000.

TD Securities on US jobs

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