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Employment Report (Nov.)

The disappointing 210,000 gain in non-farm payrolls in November suggests the labour market recovery was faltering even before the potential impact of the new Omicron variant, possibly due to the rising infection rates in the Northeast and Midwest. Nevertheless, the Fed is still likely to push ahead with plans to accelerate the pace of its QE taper at this month’s FOMC meeting.
Andrew Hunter Senior US Economist
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ISM Manufacturing Index (Nov.)

The November ISM manufacturing survey suggests that supply shortages are yet to ease significantly, but it does at least echo anecdotal reports that they are no longer getting worse.

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US Employment Report Preview

Slowdown ahead

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19 November 2021
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