US Nonfarm Payrolls to rebound to 230K in November – TDS

Analysts at TD Securities (TDS) offer a sneak peek at what they expect from Friday’s United States (US) labor market report for November.

Key quotes

“We look for payrolls to rebound in November, registering a 230k gain and reflecting a mean-reversion after a softer NFP report in October.”

“We also expect the UE rate to decline by a tenth to 3.8% following the surprising increase in October to 3.9%, as we are anticipating a rebound in the household employment series.”

“Average hourly earnings likely advanced 0.3% m/m, with the y/y measure dropping to 3.9%.”