Goldman Sachs Research previews the US May jobs report on Friday.

"We forecast a 60k increase in payrolls (vs. 89k consensus) in May. Big data indicators of job growth slowed, and government is likely to be a 5k net drag. We expect the unemployment rate to remain unchanged at 4.3%," GS notes.

"While continuing claims have fallen further, the unrounded unemployment rate was 4.34% in April, and the May unemployment rate appears to suffer from modest positive residual seasonality. We forecast a 0.4% increase in average hourly earnings, reflecting positive calendar effects," GS adds.