The Day Ahead U S and Canada Canadian and U S Employment Data

It’s a big day for both Canada and the U.S., with the release of November employment data.

Canadian employment will be the first release of the day. Economists are forecasting 25,000 jobs lost, following October’s 9,500 jobs gained. The unemployment rate is expected to move higher to 6.4% following October’s reading of 6.2%.

In the U.S., economists are expecting nonfarm payrolls to decline 333,000 in November, following 240,000 jobs lost in October. The unemployment rate is also expected to move higher to 6.8% following October’s reading of 6.5%.

The Big 3 U.S. automakers CEOs will continue their testimony in Washington as they plea for a $34 billion bridge loan before the House Financial Services Committee Hearing.

Markets will also be interested to see how consumer credit is faring in the current crisis. U.S. consumer credit is expected to come in at $2 billion, down from last month’s $6.9 billion figure.

All times in EST:

7:00 CA Unemployment Rate November Exp: 6.4% Prior: 6.2%
7:00 CA Net Change in Employment November Exp: -25.0K Prior: 9.5K
8:30 US Change in Nonfarm Payrolls November Exp: -333K Prior: -240K
8:30 US Unemployment Rate November Exp: 6.8% Prior: 6.5%
8:30 US Change in Manufacturing Payrolls November Exp: -100K Prior: -90K
8:30 US Average Hourly Earnings (M/M) November Exp: 0.2% Prior: 0.2%
8:30 US Average Hourly Earnings (Y/Y) November Exp: 3.4% Prior: 3.5%
8:30 US Average Weekly Hours November Exp: 33.6 Prior: 33.6
9:30 US Big 3 U.S. Automakers To Speak at House Financial Services Committee Hearing
15:00 US Consumer Credit October Exp: $2.0B Prior: $6.9B

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The Day Ahead U S and Canada Canadian and U S Employment Data