Nonfarm payrolls in U.S. likely increased in November

U.S. employment report for November is expected to release next week. Nonfarm payrolls in the economy are expected to have grown by 200k, and private sector job growth expected at 195k and a modest 5k increase in government payrolls, estimates Barclays.

Despite a modest pace in the monthly job growth, the jobless claims remain at historically low levels. 

"We forecast average hourly earnings to be up 0.1% m/m (previous: 0.4% m/m) in November, largely due to calendar effects, which should lead the y/y rate to slip to 2.2% from 2.5% last month. Finally, we expect the average workweek to remain steady at 34.5 hours", says Barclays in a research note.