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November's payrolls number could be the swing vote for the markets' and the Fed's outlook on rate cuts and the economy.
Most economists expect the Labor Department's report Friday of new jobs added to print 105,000, up slightly from earlier estimates this week of 100,000. Analysts and economists expect the unemployment rate to climb to 4.6% from 4.4%.
If the report comes in as predicted or stronger, the Fed's hawkish talk and sanguine economic outlook will seem prescient. The conclusion would be that the soft landing for the economy is in play, and that it may not be enough to dampen inflation, making rate cuts unlikely. ...
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