Here Comes The Jobs Report...
The BLS is set to release the November jobs report at 8:30 am ET.
From our big preview of the report, here's a quick look at what Wall Street expects:
- 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
On Twitter, users were a bit more bullish, expecting the jobs report to show nonfarm payrolls grew by 238,000 in November.
The economy will also look to extend its streak of months with payrolls gains over more than 200,000 to 10, the most since a 19-month stretch almost 20 years ago.
November, however, can be a tricky month, as Pantheon Macro's Ian Shepherdson noted on Thursday. Over the last five years, November has seen a median upward revision of 71,000 jobs from the first to third estimate, and accordingly, Shepherdson expects Friday's headline report to disappoint.
Keep it here, as we'll be back with the live numbers and complete market reaction as soon as the numbers hit.