The US non-farm payrolls data is due at 8.30 am US Eastern time on Friday, 8 December 2023.
The ranges for the key data points are:
- Headline number 100K to 275K
- Unemployment rate 3.8% to 4.0%
- Average earnings m/m 0.2% to 0.4% (for the y/y 3.9 to 4.2%)
And, while I’m here, for the Michigan sentiment headline the range of estimates is 60.8 to 65.0
Results outside these bands indicating a stronger labour market than expected should trim back expectations the market has for many rate cuts next year. Weaker data outside these ranges could ramp up expectations, and asset bullishness, even more.