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What to watch out for from the US jobs numbers
On Friday we get the first major release of the year that market watchers are waiting for; the non farm payrolls. Mads thinks we’ll land around the 200-thousand mark. He says there's an "upside risk" to the figures given the latest ADP employment report beat estimates. On the other hand in December the recent cold weather in some parts of the US could have affected the report negatively.
In November, payroll figures also showed that 203,000 jobs were created and that the US unemployment rate fell to a five-year low of 7 percent, according to the US Labor Department.
The monthly non-farm payroll figure is watched closely by economists as it's a key factor for the federal Reserve's tapering plans. Mads says that as long as the FOMC sees this level of jobs' growth, the Fed will continue to taper. The current level is "satisfactory" for the FOMC., Mads believes that this year, consumer spending will rise and will drive the US economy higher and that “growth could come in at around 3 percent”.
01:42 minutes
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