The TD Securities Team previews the data ahead for US, anticipating a 245k gain in headline payrolls.
Key Quotes
“Nonfarm payrolls will be the key point of focus today and while weakening ISM non-manufacturing and ADP data has likely shifted consensus forecasts lower, we look for a 245K gain in headline payrolls and a 232K in private employment.”
“Wages will be in particular focus as we look for a 0.3% rebound in earnings, with last month’s 0.2% decline potentially seeing a modest upward revision.”
“The unemployment rate is also expected to remain steady at 5.6%, hinting that recent labor market progress has been maintained.”
“Later in the day, we look for December consumer credit data to show a considerable $22B increase.”
Key Quotes
“Nonfarm payrolls will be the key point of focus today and while weakening ISM non-manufacturing and ADP data has likely shifted consensus forecasts lower, we look for a 245K gain in headline payrolls and a 232K in private employment.”
“Wages will be in particular focus as we look for a 0.3% rebound in earnings, with last month’s 0.2% decline potentially seeing a modest upward revision.”
“The unemployment rate is also expected to remain steady at 5.6%, hinting that recent labor market progress has been maintained.”
“Later in the day, we look for December consumer credit data to show a considerable $22B increase.”
