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Jefferies economist Tom Simons said...>

US DATA REACT
US DATA REACT: Jefferies economist Tom Simons said that "November payrolls came
in above expectations" at 228K "but the details are a little bit soft. AHE rose
0.2% and the downward revisions to last month meant that the YoY increase rose
to only 2.5%. Wage growth remains elusive despite the tightness in labor market
conditions that is suggested by other indicators. Wages are moving in the right
direction, but slower than one would hope for at this point in the cycle."
- He adds that the "household survey was pretty steady in November, with modest
increases in both household employment and unemployment. Unrounded, the U3 rose
to 4.118% from 4.065% last month."

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