USD: Expecting December Payroll Gains G=Nearly Grinding To A Halt – Credit Agricole

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What are the expectations for the US December Nonfarm Payrolls?

Here is their view, courtesy of eFXdata:

Credit Agricole CIB Research discusses its expectations for the US December jobs report on Friday.

“We expect Friday’s December employment report to show a continued slowdown in the labour market recovery, with nonfarm payroll gains nearly grinding to a halt though just eking out a gain of around 50k,” CACIB notes.

“Consensus currently sits at 68k, though there are a range of forecasts between -175k and +200k. With barely positive payroll gains, we look for the unemployment rate to tick up to 6.8% from 6.7%, with average hourly earnings rising 0.2% MoM, resulting in a still-elevated 4.5% YoY pace,” CACIB adds.

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