TechFlow news, on December 6, according to Jinshi reports, economists expect the November nonfarm payrolls report to show that the U.S. created 200,000 jobs in November, compared to only 12,000 jobs added in October due to distortions caused by two hurricanes and the Boeing strike. The unemployment rate may rise slightly to 4.2% in November from 4.1% in October. Meanwhile, average hourly earnings are expected to grow 3.9% year-on-year in November, following a 4.0% increase in October. Powell said at an event this week that with the economy still growing, the labor market stable, and inflation still above the 2% target, there is no need to rush into cutting interest rates.
TD Securities analysts, previewing the November nonfarm payrolls report, said that as the impact of the two hurricanes fades, about 75,000 jobs are expected to return to trend in November. Additionally, they expect the unemployment rate to rise 0.1% to 4.2%, while monthly average hourly earnings growth may slow to 0.2% after surging 0.4% in October.
