NFP Preview: Will Unemployment Break Back Below 10%?

Seven months on from the initial US shutdowns, portions of the US labor market have returned to normal, especially for “white collar” employees who are able to work from home. In contrast, other areas of the labor market, including the hospitality, tourism, and restaurant sectors, remain deeply scarred. Throwing another spanner in the works, the massive fiscal stimulus from earlier in the year (highlighted by $600 in additional unemployment benefits) has worn off, and Congress has not yet reached an agreement on a new bill. Such is the bifurcated state of affairs as traders look ahead to Friday’s always … (full story)

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