Bulletin
Investor Alert

Economic Report Archives | Email alerts

Dec. 6, 2019, 9:26 a.m. EST

‘That’s a lot of jobs!’ economists exclaim after strong payrolls report

Upbeat report should silence near-term recession worries, says analyst

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    U.S. Dollar Index (DXY) (DXY)
  • X
    U.S. 10 Year Treasury Note (TMUBMUSD10Y)

or Cancel Already have a watchlist? Log In

By Robert Schroeder, MarketWatch

Economists called November’s payrolls report a “blowout,” citing the higher-than-expected 266,000 jobs created in the month and said it should silence near-term recession “Grinches.”

The Dow Jones Industrial Average futures   jumped on the report, which also showed the unemployment rate falling to match a 50-year low of 3.5%.

Read more about the report from MarketWatch.

• “The labor market continues to barrel forward despite the limited pool of available labor,” said Thomas Simons of Jefferies LLC, who labeled the report a blowout and also noted: “To the extent that one can find something negative in this report, [average hourly earnings] was up only 0.2% on the month.”

• “This was a strong report almost all the way through the numbers which will support the US$ /zigman2/quotes/210598269/delayed DXY -0.04%   today and see bond yields /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y +1.89%   rise,” said Andrew Grantham of CIBC Economics.

• “This upbeat November employment report should suffice to silence near term recession Grinches!!!” — Brian Bethune, Tufts University.

Also read: ‘Fiscal dysfunction’ may lead to 10% pullbacks next year — and also some good opportunities, fund manager says.

/zigman2/quotes/210598269/delayed
US : U.S.: ICE Futures U.S.
99.32
-0.04 -0.04%
Volume: 0.00
Feb. 24, 2020 7:46p
loading...
/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
1.40
+0.03 +1.89%
Volume: 0.00
Feb. 24, 2020 7:56p
loading...

Robert Schroeder is the White House reporter for MarketWatch. Follow him on Twitter @mktwrobs.

Get news alerts on U.S. Dollar Index (DXY) — or create your own.
This Story has 0 Comments
Be the first to comment
More News In
Economy & Politics

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.