CNBC Daily Open: Beware confirmation bias in U.S. jobs report for November [CNBC]
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Taken from CNBC's Daily Open, our international markets newsletter — Subscribe today The U.S. November jobs report has something for everybody. Those convinced of weakness will highlight the higher-than-expected unemployment rate as well as the number of jobs shrinking in October. On the other hand, proponents of a strong economy will focus on jobs growth in November beating estimates, and point out that the increase in the unemployment rate was mostly because the labor force grew, as CNBC's Jeff Cox noted Without any definitive judgment that can be made on the state of the labor market, traders left their bets on interest rate cuts in January mostly unchanged. It's currently at 25.5%, around one percentage point higher than before the release of the November jobs report, according to the CME FedWatch tool “Today's data paints a picture of an economy catching its breath,” said Gina Bolvin, president at Bolvin Wealth Management Group. “Job growth is holding on, but cracks ar
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