Pay­rolls seen up in Nov, job­less rate steady

The Pak Banker - - International3 -

WASHINGTON: The U.S. econ­omy prob­a­bly recorded a sec­ond month of solid job gains in Novem­ber, which would bol­ster views the la­bor mar­ket is im­prov­ing even though the ac­tiv­ity is not enough yet to lower the un­em­ploy­ment rate.

Non­farm pay­rolls likely rose 140,000, with pri­vate hir­ing in­creas­ing by more than 100,000 for a fifth straight month in Novem­ber, ac­cord­ing to a Reuters sur­vey. The un­em­ploy­ment rate is fore­cast to have held steady at 9.6 per­cent.

Econ­o­mists said there was a chance pay­rolls could sur­prise on the up­side, cit­ing a resur­gence in re­tail hir­ing af­ter a two-year slump. In Oc­to­ber, U.S. em­ploy­ment in­creased by 153,000.The La­bor Depart­ment will re­lease its closely watched monthly re­port on jobs at 8:30 a.m. ET. "There is a lot of op­ti­mism that the econ­omy is on the re­bound and def­i­nitely has turned around," said Bar­bara Byrne Denham, chief econ­o­mist of East­ern Con­sol­i­dated in New York. -Afp

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