When the Department of Labor releases the November U.S. jobs report
tomorrow (Friday), brace yourself for dismal news.
U.S. jobs growth most likely experienced a sharp slowdown last month as the late-October Superstorm Sandy interrupted economic activity.
According to a Reuters
survey of economists, nonfarm payrolls are forecast to show a gain of just 93,000 in November, down considerably from 171,000 in October.
Economists surveyed by CNNMoney
are more pessimistic, calling for nonfarm payroll gains of 77,000 in November.
Barclays' outlook is even bleaker. The bank sees a gain of 50,000, which would push the jobless rate to 8.0% from 7.9%.
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