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RBC's Michael Cloherty, Tom.........>

US DATA PREVIEW
US DATA PREVIEW: RBC's Michael Cloherty, Tom Porcelli and Jacob Oubina said on
this Friday's December jobs report that "nothing in the high-frequency data
suggests we are likely to deviate from trend payroll growth near-term.
Accordingly we look for 200k/195k for headline/private nonfarm payrolls in
December."
- They added that US "job growth remains well north of the breakeven rate
dictated by population dynamics, and the significant labor force re-entrance
from the prime working age cohort has a lot to do with this. This is a trend
that still looks to have legs. Thus near-200k payroll growth could be with us
for some time. We look for continued downward pressure on the unemployment rate,
as evidenced by households' labor market sentiment."

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