Nov NFP Preview – Goldman Sachs
|Analysts at Goldman Sachs present a brief preview on the upcoming US labor market report, which will be published later today at 13.30GMT.
Key Highlights:
Forecast nonfarm payroll growth at +200k in November
Previous forecasts at +180k, citing a flow of stronger data so far this week (especially ADP)
Cite positive weather effects and "possible residual seasonality"
The US unemployment rate seen at 4.8%
Average hourly earnings expected +0.1% on the month (a lot lower than the +0.4% in October)
Cite "negative calendar effects" (forecast for y/y is at +2.7%)
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