Preview: November non-farm payrolls by the numbers

<p>What's expected:</p><ul><li>Consensus estimate +180K (range +100 to +275K)</li><li>Private +158K</li><li>October +150K</li><li>Unemployment rate consensus estimate: 3.9% vs 3.9% prior</li><li>Participation rate consensus 62.7% prior</li><li>Prior underemployment U6 prior 7.2%</li><li>Avg hourly earnings y/y exp +4.0% y/y vs +4.1% prior</li><li>Avg hourly earnings m/m exp +0.3% vs +0.2% prior</li><li>Avg weekly hours exp 34.3 vs 34.3 prior</li></ul><p>November jobs so far:</p><ul><li>ADP report +103K vs +130K expected and +106K prior</li><li>ISM services employment 50.7 vs 50.2 prior</li><li>ISM manufacturing employment 45.8 vs 47.6 prior</li><li>Challenger Job Cuts -40.8% y/y vs +8.8% prior</li><li>Philly employment +0.8 vs +4.0 prior</li><li>Empire employment -4.5 vs +3.1 prior</li><li>Initial jobless claims survey week 211K vs 233K last month (was a five-week low)</li></ul><p>Seasonally, the November jobs number has beat the consensus 52% of the time and missed 48% of the time, according to BMO while the unemployment rate has been higher than anticipated 12%, matched 42% and been lower 46% of the time.</p>

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