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Non-Farm Payrolls Preview: Softening data expected
We get some fresh job numbers out of the US this Friday in the form of the non-farm payrolls report. Consensus sees the headline figures rising by 500,000 which would be the slowest pace of gains so far in the pandemic. With Covid infection rates piling up and more restrictive measures expected, the downside is only going to increase into the new year. The key question is by how much, before the Fed and fiscal support arrive? After a strong rebound in the third quarter and an October reading of 638k which beat expectations, we are due to get a snapshot of the damage from the second wave of the pandemic in the US. ... (full story)