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Wages may show strong gain in November US jobs report -- and Wall Street won't like it
Wall Street has rallied after inflation worries calmed down and Federal Reserve honchos implied interest rates might not rise much further, but the upcoming U.S. jobs report could arouse more anxiety. The economy likely produced another 200,000-plus new jobs in November, keeping the unemployment rate at or near a 48-year low of 3.7%, economists predict. “The jobs report is shaping up to be hawkish across the board,” economists at TD Securities said. That’s great news, all right, except for one thing. An extremely “tight” labor market usually leads to higher wages — and that’s historically been viewed as ... (full story)
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