Here comes the jobs report …


american flag fans olympics

The Bureau of Labor Statistics will release the November jobs report at 8:30 a.m. ET.

Economists forecast that employers added 198,000 nonfarm payrolls last month, down from the blockbuster 250,000 print that was recorded in October, according to estimates compiled by Bloomberg.

They forecast that the unemployment rate held at 3.7%, a 49-year low, for a third straight month.

With the rate this low, several other economic indicators have shown that wages are finally rising as employers struggle to fill vacant positions. The sluggish pace of wage growth has dogged this economic recovery and remained one of the bleakest trends of an otherwise strengthening jobs market. Average hourly earnings are expected to increase 0.3% month-on-month and 3.1% year-on-year, matching the highest rate since April 2009.

The jobs report could shed more light on the impact of tariffs on hiring and wages in industries like manufacturing. In the Federal Reserve’s most recent beige book of anecdotes from across the US, several business owners said tariffs were raising their input costs — a trend that may slow their pace of hiring in a jobs market that’s already tight.

This jobs report also comes at a tumultuous time for stocks, as Wall Street investors try to unravel whether the weakness in financial markets is signaling something more sinister about the underlying economy.

Refresh this page for the latest at 8:30 a.m. ET.

Read more:
The world’s most accurate economic forecaster pinpoints the biggest risks investors will face in 2019 — and explains how they can prepare
‘It ends next year’: What Wall Street’s biggest firms are forecasting for the stock market in 2019, and where they say you should put your money
GOLDMAN SACHS: The stock market will become a drag on the booming US economy in 2019, and there’s one way traders can safeguard their portfolios
Wall Street’s biggest firms are suddenly embracing an asset class that has languished since the financial crisis — and it’s a competitive threat to stocks

SEE ALSO: The world’s most accurate economic forecaster pinpoints the biggest risks investors will face in 2019 — and explains how they can prepare

Join the conversation about this story »

NOW WATCH: Beautiful time-lapse videos show how much China has changed over the years

…read more

Source:: Businessinsider – Finance

      

(Visited 2 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *