Private nonfarm payrolls in the US are projected to increase by 193,000 (seasonally adjusted) in tomorrow’s November report from the Labor Department, based on The Capital Spectator’s average point forecast for several econometric estimates. The prediction marks a healthy gain, albeit one that’s substantially below October’s surprisingly strong increase.
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The 30-day moving average of the Effective Fed Funds rate is inching higher for the first time since early September. The revival of the upward bias for this key rate, although slight, is significant in the wake of yesterday’s speech by Fed Chair Janet Yellen, who said that the central bank is moving closer to raising interest rates later this month.
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● ADP: US private job growth adds the most jobs in 5 months | MarketWatch
● Yellen: Fed will likely raise interest rates this month | USA Today
● Fed’s Beige Book report: US growing at “modest” pace | Bloomberg
● Gallup’s US Job Creation Index Steady in November | Gallup
● Eurozone Retail Sales Fall Unexpectedly In October | RTT
● PMI: Eurozone Nov business growth accelerates as firms cut prices | Reuters
● PMI: China’s Private Sector Expands For First Time In 4 Months | RTT
● PMI: UK services growth hits 4-month high, economy to pick up speed | Reuters