TSLA - Boost In US Payrolls Expected As United Auto Workers Return Ending Strikes At GM Ford And Stellantis | Benzinga
The resumption of work by the United Auto Workers is predicted to cause a surge in November payrolls, counteracting the recent deceleration in U.S. job growth.
What Happened: The governmental data is likely to indicate a boost in payrolls by 180,000, climbing from a 150,000 progression in October, Bloomberg revealed. However, there is still an average job growth decrease of about 100,000 over the past three months when compared to early in the year.
The unemployment rate is predicted to stay at 3.9%, the highest since the start of 2022. This rate indicates a more tepid labor market and restrained wage growth, easing inflation concerns and reinforcing the perception that the Federal Reserve has put a stop to interest rate raises.
The employment report also anticipates a 4% rise in average hourly earnings in November from a year earlier, representing the smallest yearly increase since mid-2021.