SMD Forecasts a decline of 3.842M jobs in tomorrow's BLS Non-Farm Payrolls May Jobs report

Tomorrow the BLS will print a COVID-19 Non Farm Payroll job loss of -3.842 Million, far better then the Bloomberg consensus of -7.725M. Not much to say except that our key input, the LinkUp Jobs Data, confirms that declines continue but are not as severe as expectations. We believe the bottom is in.

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