posted at 02:50
Author Name: Myles Udland
November Jobs Report Preview
At 8:30 a.m. ET, the BLS will release the November employment report, and expectations are for the job market's gains to continue going strong. Nonfarm payrolls: +230,000 Private payrolls: +225,000 Unemployment rate: 5.8% Average hourly earnings, month-on-month: +0.2% Average hourly earnings, year-on-year: +2.1% Average weekly hours worked: 34.6. In October, nonfarm payrolls grew by 214,000, less than the 235,000 that was expected by Wall Street, though the unemployment rate fell to 5.8%, the lowest since 2008. In a note to clients ahead of the report, Brian Jones at Societe Generale, who expects nonfarm payrolls grew by 275,000 in November, said, "Our analysis suggests that last month's readings on hiring, joblessness and wages will support the more upbeat assessment of labor-market conditions expressed by monetary policymakers following their October gathering." Joe LaVorgna at Deutsche Bank expects nonfarm payrolls grew by 250,000 in November, writing in a note to clients ahead of the report that, "There is little evidence to suggest the current pace of job gains will deteriorate anytime soon." Ian Shepherdson at Pantheon Macroeconomics expects nonfarm payrolls grew by just 180,000 in November owing to the severe weather seen in the northern Midwestern states at the end of the month. Friday's jobs report also comes after what was an overall solid month for the stock and bond markets, but a complete disaster for the oil market, though it is unlikely any job losses related to oil production declines will show up in Friday's report. As always, we will have wall-to-wall live coverage of the jobs report.

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