U.S. non-farm payrolls likely to have risen in November
U.S. non-farm payrolls data is set to be released tomorrow. According to a TD Economics research report, payrolls are likely to have risen by 215k in November, as growth revers back toward its recent trend. The swing in …
U.S. non-farm payrolls data is set to be released tomorrow. According to a TD Economics research report, payrolls are likely to have risen by 215k in November, as growth revers back toward its recent trend.
The swing in payrolls in the prior two months imply that hurricane effects are complete. Removing the volatility, 3 to 6 month average stood at 216k and 218k respectively. Therefore, payrolls are expected to normalize but stay solid in line with the resilience seen in job surveys. Claims had risen higher but not in the reference week and could be related to holiday distortions.
“Wages also have scope for a strong 0.3 percent print given the reference week and Amazon hikes, leaving y/y growth higher at 3.2 percent. Finally, we expect the unemployment rate to stabilize at 3.7 percent”, added TD Economics.
At 19:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was neutral at -13.3566. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
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