Expectations for US nonfarm payroll tomorrow morning

US nonfarm payroll to add 550K jobs in November

The US jobs report will be released at 8:30 AM ET. The expectations are for:

Non Farm Payroll to add 550K jobs. That comes after a rise of 531K in October. That gain was above the 425K estimate. Job gains in September came in at 312K and August it was at 483K
ADP nonfarm employment change came in at 534K on Wednesday. Last month ADP showed a gain of 570K which was relatively close to the 531K reported by the BLS.
Goods producing jobs last month rose by 108,000.
Service producing jobs increased by 496,000
Government jobs fell by -73,000
The unemployment rate is expected to decline to 4.5% from 4.6% last month. The unemployment rate pre-pandemic was around 3.5% and 4.4% in March 2020 before spiking higher to 14.7% in April
average hourly earnings are expected to come in at 0.4% versus 0.4% last month. Year on year earnings are expected to rise by 5.0% versus 4.9% last month
initial jobs claims during the survey week came in at 268K which was lower than the 290K last month.
Manufacturing payrolls came in at 60K last month. The ADP report showed a gain of 50K this month
average workweek is expected to remain steady at 34.7
The U6 underemployment rate is expected at 8.4% versus 8.3% last month

The details of the ADP report showed:

Goods Producing jobs:

Service producing jobs showed

From last months BLS jobs report:

Goods producing jobs:

Service producing jobs:

This article was originally published by Forexlive.com. Read the original article here.