Bank of America: November Nonfarm Payrolls Expected to Sharply Beat Previous Value
On 3 December, economists at Bank of America said the November jobs report will be released on Friday, when investors should focus on the two-month growth rate, especially given the risk of a sharp revision to October's data.
A survey by The Wall Street Journal showed that U.S. non-farm payrolls are expected to post an increase of 214,000 in November, up from 12,000 in October. Bank of America expects the figure to exceed 240,000 due to the impact of hurricanes and the Boeing strike. It also expects the labour force participation rate to rebound, taking the unemployment rate from 4.1% to 4.2%, in line with the Wall Street Journal's expectations.
Bank of America said that jobless claims had risen in the wake of the hurricanes but had since declined, signalling a rapid economic recovery.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Swiss Franc declines as US Dollar rises on Fed rate hike bets
South Korean stocks dropped over 1%
"Big short" Michael Burry: The AI bubble may burst "earlier than expected," replacing short positions with put options to increase leverage
Michael Burry suggested that the AI bubble could burst as early as next summer and has replaced all his short positions on Micron, Nebius, SOXX semiconductor ETF, and Palantir with put options to obtain lower cost and higher leveraged short exposure. He believes the AI boom is built on the unproven assumption of "sustained capital expenditure," and once revenues disappoint, capital will quickly flee.
Crypto prices
More
