8 Jan 2016
Nonfarm payrolls preview - Nomura
FXStreet (Guatemala) - Analysts at Nomura offered a preview of the nonfarm payrolls.
Key Quotes:
"The November jobs report was solid, with total nonfarm payrolls growth exceeding 200k, and the unemployment rate remaining low at 5.0%. Incoming data on labor markets point to a steady pace of job gains again in December. We forecast that private payrolls added a net new 210k workers (Consensus: 200k), with a 10k increase in government workers, implying that total nonfarm payrolls will gain 220k jobs (Consensus: 200k).
We forecast that manufacturing payrolls declined by 3k in December (Consensus: 0k), as regional manufacturing surveys suggest that activity in the sector remained sluggish on the month. We expect the unemployment rate to remain unchanged at 5.0% (Consensus: 5.0%). Last, we expect average hourly earnings to grow by a solid 0.28% m-o-m (2.8% y-o-y) (Consensus: 0.2% m-o-m, 2.8% y-o-y) as the labor market continues to tighten. Read more: US: December Employment Preview, Economics Insights, 6 January 2016."
Key Quotes:
"The November jobs report was solid, with total nonfarm payrolls growth exceeding 200k, and the unemployment rate remaining low at 5.0%. Incoming data on labor markets point to a steady pace of job gains again in December. We forecast that private payrolls added a net new 210k workers (Consensus: 200k), with a 10k increase in government workers, implying that total nonfarm payrolls will gain 220k jobs (Consensus: 200k).
We forecast that manufacturing payrolls declined by 3k in December (Consensus: 0k), as regional manufacturing surveys suggest that activity in the sector remained sluggish on the month. We expect the unemployment rate to remain unchanged at 5.0% (Consensus: 5.0%). Last, we expect average hourly earnings to grow by a solid 0.28% m-o-m (2.8% y-o-y) (Consensus: 0.2% m-o-m, 2.8% y-o-y) as the labor market continues to tighten. Read more: US: December Employment Preview, Economics Insights, 6 January 2016."