Thursday, December 03, 2020

Friday: Employment Report, Trade Deficit

by Calculated Risk on 12/03/2020 09:35:00 PM

My November Employment Preview

Goldman November Payrolls Preview

Friday:
• At 8:30 AM ET.Employment Report for November.   The consensus is for 500 thousand jobs added, and for the unemployment rate to decrease to 6.7%.

Employment Recessions, Scariest Job ChartClick on graph for larger image.

This graph shows the job losses from the start of the employment recession, in percentage terms through October.

The current employment recession was by far the worst recession since WWII in percentage terms, and the worst in terms of the unemployment rate.

• Also at 8:30 AM: Trade Balance report for October from the Census Bureau. The consensus is the trade deficit to be $64.7 billion.  The U.S. trade deficit was at $63.9 billion in September.