Goldman Sachs preview of the US nonfarm payrolls data due Friday

Goldman Sachs say they think the February survey period was too early to show a meaningful impact of the coronavirus outbreak on hiring.

• We estimate nonfarm payrolls increased 195k in February
• 20-30k boost from weather
• We estimate unemployment rate to 3.5%
• We estimate average hourly earnings increased 0.3% m/m month-over-month