12/03/2020 Toby Dayton

LinkUp Forecasting Non-Farm Payroll Gain of 490,000 Jobs in November

We are way behind schedule getting our non-farm payroll (NFP) forecast posted this week, and we’ll publish a bunch of additional job market data for November over the next few days, but in order to get our NFP forecast published as quickly as possible, we’ll truncate the number of charts (as well as accompanying commentary) to the two tables below.

In November, looking at our paired-month data for November, new U.S. job openings on corporate website around the world fell 10% and total job openings were flat.



As a result, we are forecasting a net gain of just 490,000 jobs in November, slightly better than consensus estimates of 469,000 jobs but very much continuing the increasingly distressing downward trend that began in July.




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