Varied employment Friday............>

US DATA PREVIEW: Varied employment Friday estimates:

- Morgan Stanley: "look for another strong month of job gains in December, with

total nonfarm payrolls expected to increase by a net 210k (private +200k), the

unemployment rate to remain at 3.5%, and average hourly earnings to increase by

0.3%M (3.05%Y vs 3.24%Y prior)."

- RBS/NatWest: estimate +185k, near trend "which would also keep the 2019 pace

at 180,000 for the year as a whole (after a currently-reported 223,000 average

monthly job gains in 2018). Private sector hiring may have increased by around

175,000 in December, a pace also similar to recent trends."

- TD Securities: "see more downside than upside risk for payrolls in December

after an exaggerated surge in November (266K and around 220K excluding returning

strikers). Even our below-consensus 145K forecast implies a strong 189K average

for Q4. We are neutral relative to consensus on the unemployment rate and hourly

earnings."