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Nonfarm payrolls expected robust - Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 1, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Guatemala) - Analysts at Westpac noted the Dec 5 nonfarm payrolls coming up and offer predictions.

    Key Quotes:

    "Last: 271k, WBC f/c: 210k Dec 5 unemployment rate, Last: 5.0%, WBC f/c: 5.0%

    After two soft months, nonfarm payrolls growth accelerated sharply in October, with 271k jobs created. Revisions to the prior two months added a further 12k.

    Adding yet more positive sentiment, the household survey reported that the unemployment rate declined to 5.0%, its lowest level since early 2008.

    Come November, we expect another robust jobs print, circa 210k. Employment growth will surely slow back towards a pace more in line with population growth and participation; but momentum typically takes time to dissipate. Being broadly in line with FOMC estimates of full employment, we expect the unemployment rate to remain unchanged at 5.0%."
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