US NFP: Look for a 200k increase in net employment - TDS

Research Team at TDS, suggests that the US Nonfarm payroll growth should accelerate in November, underpinning a tightening in labour market conditions.

Key Quotes

“TD looks for a 200k increase in net employment, above the 180k consensus. Job growth should be driven by services and construction while manufacturing employment is unlikely to show any material improvement. The unemployment rate should hold steady at 4.9% (in line with market estimates), though the risks are tilted to the downside. Hourly earnings growth should come in on the weak side at 0.1% m/m (market: 0.2% m/m), though this is largely due to adverse calendar effects.”