By WSJ staff 

Data out this week is likely to show the labor market continuing to heal slowly, with the unemployment rate expected to tick lower in November's jobs report Friday. Manufacturing data is expected to indicate that the economy is getting better but that the pace of improvement is slowing.


Surveys of purchasing managers in the U.S. and Europe are expected to show continued, but slower, growth in the manufacturing sector in November. A report on construction spending is expected to show it rose at a faster pace in October, echoing broader strength in the housing market.

Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin appear before the Senate Banking Committee to present a quarterly report to Congress on the Cares Act at 10 a.m. ET. Earlier this month Mr. Mnuchin said he would allow several emergency Fed lending programs to expire, opening a divide with the central bank, which had pressed for an extension.


The Federal Reserve releases its beige book report. The last collection of business anecdotes across Fed districts showed the economy grew at a "slight to modest" pace in the early fall. Companies said that they were "generally optimistic or positive" about the future but that there was still a lot of uncertainty in their outlook.


U.S. applications for unemployment benefits are expected to remain elevated in the week ended Nov. 28, after rising the prior week.

The Institute for Supply Management's survey of purchasing managers is expected to show continued expansion in the services sector but at a slower pace in November.


The highlight of the week's economic data will be the November payrolls report. U.S. employers are expected to add 425,000 jobs, marking the seventh straight month of job gains, but at a notably slower pace than the 638,000 clocked in October. Economists expect the unemployment rate to tick slightly lower in November to 6.7% from 6.9% in October, underscoring the severe damage from the coronavirus pandemic and the labor market's long road to recovery.

Also due out is trade data, which is expected to show the deficit widened in October as Americans stepped up the pace of imports.


(END) Dow Jones Newswires

November 29, 2020 15:14 ET (20:14 GMT)

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