Economy Week Ahead: November Jobs Report, Trade, Manufacturing
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
U.S. applications for unemployment benefits are expected to
remain elevated in the week ended Nov. 28, after rising the prior
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
Also due out is trade data, which is expected to show the
deficit widened in October as Americans stepped up the pace of
(END) Dow Jones Newswires
November 29, 2020 15:14 ET (20:14 GMT)
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