MNI BRIEF: Japan Q4 Output Gap Posts Positive Figure - BOJ

MNI: PBOC Drains Net CNY248 Bln Via OMO Weds; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.0949 Weds; -4.77% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.0949 WEDS VS 7.0957

MNI China Daily Summary: Tuesday, April 2

Energy Drives Headline Increase To 3.1% Y/Y

UK Timeline of Key Events (All Times UK)

Eurozone Timeline of Key Events (BST)

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

SocGen Sees Big Unemp Rate Drop; JPM In Line On Job Gains

US OUTLOOK/OPINION

SocGen's forecast for a 0.3pp decline in the unemployment rate to 4.3% in November stands out vs a 4.5% consensus. They see this "on the basis of strong job gains" (albeit their 500k payrolls estimate is below-consensus), with service sector employment performing well ("particularly in entertainment and travel").

  • The main risk to their outlook is that more people will return to the workforce following the expiration of unemployment benefits, but SocGen does not see that as the key factor in low participation rates.

JPMorgan sees +550k payrolls growth (very close to consensus), with +530k private sector job gains in November.

  • They note that the ADP report "is not always a reliable predictor of the BLS data" but that this week's figure "does suggest that expectations for Friday are pretty reasonable."
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.