January non-farm payrolls preview by the numbers: Positive signs abound ...Middle East

Consensus estimate +170K Estimate range +60K to +250KDecember was +256K Private consensus +141K versus +223K priorUnemployment rate consensus estimate 4.1% versus 4.1% priorPrior unrounded unemployment rate 4.0855%Prior participation rate 62.5%Prior underemployment U6 7.5% Avg hourly earnings y/y exp +3.8% versus +3.9% priorAvg hourly earnings m/m exp +0.3% versus +0.3% priorAvg weekly hours exp 34.3 versus 34.3 prior

ADP report +183K versus +176K priorISM services employment 52.3 vs 51.3 prior (16-month high)ISM manufacturing employment 50.3 vs 45.4 priorChallenger job cuts 49.79k vs 38.79k prior Philly employment +11.9 vs +4.8 priorEmpire employment +1.2 vs -6.6 prior Initial jobless claims survey week 223K (a six-week high)

Seasonally, the headline print is evenly split in January between misses and beats but 58% of unemployment rate readings have been lower than expected with 34% higher and just 8% matching the consensus.

Perhaps more important that the headlines will be negative revisions to 2024 with most economists expecting a drop of 650-700K from the cumulative 2024 readings. That's better than the -818K signalled in August but it's still a drag of around 50K per month weighted to H1. We will also be watching the population figures because that could leads to a bump up in the unemployment rate.

This article was written by Adam Button at www.forexlive.com.

Read More Details
Finally We wish PressBee provided you with enough information of ( January non-farm payrolls preview by the numbers: Positive signs abound )

Also on site :

• Major power outage hits EU country
• Will Chicago have Fourth of July fireworks? What to know about Navy Pier schedule
• The Clever Deviled Egg Recipe That Fans Are Calling ‘Brilliant’