BNP Paribas: Non-farm payroll report expected to be better than expected

ChainCatcher news, BNP Paribas analyst Andrew Hespie stated that U.S. employment in November may rebound, but the non-farm payroll report may be ambiguous enough to merely support the Federal Reserve's decision to cut rates in December. The forecast for new jobs is expected to reach 225,000, higher than the consensus estimate of 214,000 in a Wall Street Journal survey.

Hespie expects the 12,000 new jobs figure suppressed in October due to hurricanes and the Boeing strike to be revised. Uncertainty ahead of the U.S. elections may also have somewhat restrained hiring activity in October. Hespie added that adverse weather may have limited the labor force participation rate in October, and the rebound in November could see the unemployment rate rise from 4.1% to 4.2%. (Jin Shi)