Nonfarm payrolls expected robust – Westpac

By FXStreet FXStreet (Guatemala) – Analysts at Westpac noted the Dec 5 nonfarm payrolls coming up and offer predictions.

Key Quotes:

“Last: 271k, WBC f/c: 210k Dec 5 unemployment rate, Last: 5.0%, WBC f/c: 5.0%

After two soft months, nonfarm payrolls growth accelerated sharply in October, with 271k jobs created. Revisions to the prior two months added a further 12k.

Adding yet more positive sentiment, the household survey reported that the unemployment rate declined to 5.0%, its lowest level since early 2008.

Come November, we expect another robust jobs print, circa 210k. Employment growth will surely slow back towards a pace more in line with population growth and participation; but momentum typically takes time to dissipate. Being broadly in line with FOMC estimates of full employment, we expect the unemployment rate to remain unchanged at 5.0%.”
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Source:: FX Street