Summary:
November job creation remains robust, with nonfarm payrolls up by 199k, surpassing the 190k estimate and outperforming October's gain of 150k.
NFP (Changes in non-farm payroll)
5/1/2024 (Fri)
Previous (Nov)：199k | Forecast: 163k
Job creation showed little signs of a letup in November. Nonfarm payroll rose by 199k for the month, slightly better than the 190k estimate and ahead of the Oct gain of 150k.
The unemployment rate declined to 3.7% while average hourly earnings increased 4% from a year ago. Data revisions were to the negative side in 2023 if at all, so the figure could have been overvalued too.
The report comes at a critical time for markets to assess the US economy. Most economists expect a sharp economic slowdown in the fourth quarter and tepid gains in 2024.
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
Gold stayed near a three-week high on Monday, with Chinese dealers raising premiums due to stronger demand ahead of the New Year.
2025-01-06
Oil prices were on track for a second weekly gain, driven by hopes of increased government support to boost economic growth and fuel demand.
2025-01-03
The South African rand erased early gains on Thursday, extending December's weakness, but could rally, according to the options market.
2025-01-02
