UBS On-Air: Market Moves
UBS On-Air: Paul Donovan Daily Audio 'Employment without consensus'
06 Dec 2024
US employment report Friday looms, when markets get excited about what an unreliable survey tells us about the economic outlook. The aftermath of strikes and hurricanes adds a lot of uncertainty to this report, and there is not really a consensus expectation for employment growth—just a wide range of random expectations. The forward guidance of this report is also diminished. Whatever the trends in employment, US President-elect Trump is proposing policies that might mark a structural break in employment conditions (most obviously deportations and tariffs).
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