The first week of November closes with two high-impact data in the employment sector. The United States and Canada will report the evolution of non-farm payrolls and the change in the unemployment rate respectively.
The Fed announced this Wednesday that it will begin to cut its monthly purchases of bonds from November, with the aim of finalizing the cut in 2022. However, inflationary levels continue to be transitory for the entity and will not be enough for an anticipated rise in rates of interest.
Employment, as the second important component for the economic recovery, projects positive results. The US non-farm payroll report is projected to grow to 455K.
As for the unemployment rate, it is expected to drop to 4.7%, a decrease of 0.2% compared to the previous figure. If this is the case, the unemployment rate would be almost one point from returning to pre-pandemic levels, in March 2020, 3.5%.
Canadian employment data is also expected with expectations. After assessing the evolution of the economic recovery, the Bank of Canada decided to end the stimulus program and reduce bond purchases.
The unemployment rate is expected to remain relatively stable and fall to 6.8%.
As in the case of the United States, if these values result, they would be almost one point away from the levels of March 2020, 5.6%.
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