In case you haven’t been paying attention, the data for November seems to be off to a blazing stat.
We had a good manufacturing report on Monday.
Yesterday we got very strong November car sales.
And today we had a lights-out ADP jobs report.
That means this Friday’s jobs report is going to be a huge deal for two reasons.
One is that it might (might!) provide some evidence of real economic liftoff. And two is that for those people who are obsessed with the Fed’s next move, a strong number could put the Fed strongly into “taper in December” camp, meaning that the long-awaited commencement of the wind-down of Quantitative Easing would be here.
Analysts are looking for about 200K new jobs and a drop in the unemployment rate to 7.2% (from 7.3%). Get excited.