What To Expect From The Economy This Week

Look for the number of jobs added to the economy in November to top 190,000 when the Bureau of Labor Statistics releases its employment report this Friday at https://www.bls.gov/ces/news.htm. That will be good news for the economy, but remember: The number will be inflated by including 42,000 General Motors workers returning from their now-ended strike. If the Friday release is much below 190k, that would indicate a slowing economy compared with previous reports.

It will also be of interest to see if the unemployment rate ticks up to 3.7% or not. A bump up would signal a bit of a slowdown. Finally, what happens to wage growth will provide an indication of the degree of tightness in the labor market. Wage growth has moderated since August, despite low unemployment. Perhaps companies are holding the line while uncertainty lingers over whether or how much the economy will slow down in 2020.

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