Economists expect the Bureau of Labor Statistics to report a gain of 155,000 in nonfarm payrolls in December, a step down from the surprising 227,000 increase in November.
The December jobs report is likely to provide only limited clarity on where the labor market is headed, with experts differing on how pronounced a slowdown there is in hiring.
"Our forecast reflects a rebound in the labor force participation rate and middling household employment growth amid more challenging job-finding prospects," the Wall Street bank said in a note."We expect deceleration in job growth in non-retail sectors, particularly professional services and construction, to more than offset stronger retail hiring this month."
At the Federal Reserve's December meeting, officials noted an"ongoing gradual easing in labor market" conditions, but saw"no signs of rapid deterioration," according to
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Goldman Sachs Predicts Stock Market Reaction to December Jobs ReportGoldman Sachs anticipates a range of stock market responses to the December jobs report, depending on the exact number. Economists predict a slowdown in job growth, with nonfarm payrolls potentially increasing by 155,000. Goldman Sachs strategist John Flood suggests a sweet spot for stocks between 100,000 and 125,000 jobs added, which could trigger a rally. However, stronger job growth could lead to higher interest rates, potentially harming the stock market. The report is a crucial indicator before the Federal Reserve's next meeting.
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