US: Non-farm payrolls likely to increase by 200k in November – TDS

Analysts at TD Securities are expecting the US Nonfarm payrolls to increase by a solid 200k in November following the above-consensus 128k October print.

Key Quotes

“The headline print is benefiting from a temporary boost in job gains in the goods sector, which should rebound by around 50k —a bounce-back from last month's large decline due to the GM strike.”

“We look for the overall household survey to show the unemployment rate ticked down a tenth to 3.5% and expect wages to rise 0.3% m/m, leaving the annual rate unchanged at 3.0% y/y.”