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File photo of job seekers arriving at a jobs fair in Washington.
File photo of job seekers arriving at a jobs fair in Washington.
(Jason Reed/Reuters)

Friday’s U.S. payroll report likely to surprise

The widely-obsessed-over U.S. non-farm payrolls (NFP) jobs report will be released this Friday and thankfully, the Goldman Sachs economics team was nice enough to provide tools for us to make a prediction.

In a recent research report, Goldman Sachs highlighted the high degree of correlation between non-farm payrolls and the employment component of the ISM survey of non-manufacturing companies. Since the ISM survey was released on Jan. 6, the results should help project Friday’s market-moving payrolls release.