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Jan 06 - 10:55 AM

Nomura: What We Expect from the US December Jobs Report on Friday

By eFXdata  —  Jan 06 - 09:30 AM

Synopsis:

Nomura forecasts solid job growth of 180k in December, with the unemployment rate stabilizing and wage growth moderating slightly.

Key Points:

  • Job Gains:

    • Anticipated payroll increase of 180k, supported by strength in the retail and construction sectors.
    • Survey data suggest continued labor market improvement.
  • Unemployment Rate:

    • Expected to stabilize at 4.2% (rounded), with household survey inconsistencies resolving.
  • Wage Growth:

    • Average hourly earnings projected to grow by 0.3% m-o-m, maintaining a 4.0% y-o-y rate.

Conclusion:

Nomura expects the labor market to show resilience in December, with steady job growth and moderated wage pressures aligning with broader economic stability.

Source:
Nomura Research/Market Commentary

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