According to BlockBeats, economists predict that the U.S. non-farm employment report for November will reveal the creation of 200,000 jobs. This follows a modest increase of only 12,000 jobs in October, which was affected by two hurricanes and a Boeing strike. The unemployment rate is expected to rise slightly to 4.2% from October's 4.1%. Meanwhile, average hourly earnings, which grew by 4.0% in October, are anticipated to increase by 3.9% in November. Federal Reserve Chair Jerome Powell recently stated at an event that there is no urgency to cut interest rates, citing ongoing economic growth, a stable job market, and inflation remaining above the 2% target.
TD Securities analysts, in their preview of the November non-farm report, noted that as the impact of the hurricanes diminishes, approximately 75,000 jobs are expected to return to the average. Additionally, they forecast a 0.1% increase in the unemployment rate to 4.2%. The monthly rate of wage growth, which saw a significant rise of 0.4% in October, is projected to decrease to 0.2% in November.