NEW YORK (TheStreet) -- With the market eagerly awaiting the government's latest appraisal on the U.S. job market Friday morning, the buzz in some circles is that the economy will have added jobs for the first time in two years in December.
If the median estimate is to be believed, the Labor Department's nonfarm payrolls report will show no change in December, according to a Reuters survey. The nation's headline unemployment rate could advance by a tenth to 10.1%. But individual forecasts are varying widely ahead of the release, with some forecasts anticipating little change, one showing 100,000 jobs gained and another reflecting a cut of 80,000.
"I think the market will be content with a plus or minus 25,000, somewhere in that range," said Marc Pado, U.S. market strategist at Cantor Fitzgerald. "Neither losing or gaining many jobs and an unchanged unemployment rate at 10% is all that they really need. A plus number would get people a little excited."
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