This Friday, the markets have an appointment with American employment…
(Boursier.com) — This Friday, the markets have an appointment with American employment. The monthly government report on the employment situation for December will thus be published at 2:30 p.m. (FactSet consensus 205,000 non-agricultural job creations, 3.7% unemployment rate, 180,000 job creations in the private sector, 10,000 manufacturing jobs, +0.4% increase in the average hourly wage compared to the previous month).
Yesterday, the latest private employment figures came out strong. Private job creations in the United States for the month of December came out at 235,000, according to the ADP report, which compares favorably with a consensus of 145,000 measured by FactSet and a level of 127,000 a months earlier. In fact, however, these figures are driven by small and medium-sized businesses, while large companies with more than 500 employees destroyed 151,000 jobs in December. SMEs with 1 to 19 employees created 65,000 jobs, compared to 130,000 for companies with 20 to 49 employees, 159,000 jobs for companies with 50 to 249 employees and 32,000 jobs for groups of 250 to 499 employees. By industry, construction (41,000 jobs), professional and corporate services (52,000), education and health services (42,000 jobs), and recreation and hospitality (123,000 jobs) generated the essential for December jobs.
According to the latest Challenger, Gray & Christmas study on the subject, layoff announcements by American companies for the month of December 2022 concerned 43,651 people, compared to 76,835 a month earlier. This is therefore an improvement over November, but remember that the total for October was 33,843. It should be noted that the month of November was marked by major layoff announcements from technology firms, and that this month of January is already taking the same path, with plans to Salesforce and D’Amazon.
Jobless claims fell more than expected last week. The US Department of Labor announced for the week ended December 31 that jobless claims reached a level of 204,000, down 19,000 from the previous week. The consensus was positioned at 225,000.
This Friday on Wall Street, operators will also follow industrial orders for November (4 p.m., consensus FactSet -0.5%), as well as the December services ISM (4 p.m., consensus 55). Finally, Raphael Bostic, Lisa Cook and Thomas Barkin from the Fed will speak during the day.