Thursday, January 07, 2016

Friday: Employment Report

by Bill McBride on 1/07/2016 08:09:00 PM

An employment report preview from Goldman Sachs economists Elad Pashtan and Daan Struyven:

We expect a 215k gain in nonfarm payroll employment in December, slightly above expectations of 200k. ... The unemployment rate is likely to remain unchanged at 5.0%. Average hourly earnings are likely to rise a relatively soft 0.1% month-over-month due to calendar effects. However, we expect the year-over-year rate to rise to a new cyclical high of 2.6%, boosted by favorable base effects.
Friday:
• At 8:30 AM, Employment Report for December. The consensus is for an increase of 200,000 non-farm payroll jobs added in December, down from the 211,000 non-farm payroll jobs added in November. The consensus is for the unemployment rate to be unchanged at 5.0%.

• At 10:00 AM, Monthly Wholesale Trade: Sales and Inventories for November. The consensus is for a no change in inventories.

• At 3:00 PM, Consumer Credit for November from the Federal Reserve. The consensus is for an increase of $19 billion in credit.