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US NFP likely to post 170K figure - Nomura

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Delhi) – Research Team at Nomura, forecasts that private payrolls added a net new 170k workers, with a 10k increase in government workers, implying that total nonfarm payrolls will gain 180k jobs in November.

    Key Quotes

    “The October jobs report was broadly positive, as job gains rebounded strongly, the unemployment rate continued to trend lower, and average hourly earnings accelerated, breaking out of the range observed in the past three years.”

    “In November, incoming data on labor markets point to a slower pace of job gains than the 271k total gain in October. Both initial and continuing jobless claims data in November’s BLS survey week were higher in comparison with the same period in October, and consumers’ perceptions of the labor market worsened during the month.”

    “We forecast that manufacturing payrolls declined by 5k in November, as the employment sub-index in many regional manufacturing surveys suggested that manufacturing hiring remained sluggish. We expect the unemployment rate to remain at 5.0%. Last, we expect another month of solid 0.3% m-o-m growth in average hourly earnings in November.”
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