According to Jinshi News, the US non-farm payrolls report, to be released next Tuesday, will include data from October and November, finally providing policymakers and investors with a more complete picture of the US labor market and ending months of somewhat haphazard reporting.

The Federal Reserve cut interest rates to a three-year low after a contentious meeting this week, with several officials dissenting, the debate centered on whether to prioritize addressing high inflation or a weak job market.

Citigroup economists point out that the upcoming jobs report may release more conflicting signals. The bank expects a loss of about 45,000 jobs in October but an increase of 80,000 in November.

Citigroup economists suggest that this rebound may be more related to seasonally adjusted data rather than a “real improvement in worker demand.”

They also predict the unemployment rate will rise from 4.4% to 4.52%, while a Reuters poll of economists shows an unemployment rate of 4.4%.

The Fed’s own quarterly forecasts indicate a median unemployment rate of about 4.5% by the end of this year.
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