White House Predicts Unemployment "Might Tick Upward"

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Market Mover: White House Makes Rare Prediction on Unemployment Rate

CNBC reports that Obama Press Secretary Robert Gibbs says the White House is seeing signs that unemployment “might tick upward.”

CNBC’s Steve Leisman says that the White House traditionally sees the Employment Report at 4:00pm the day before the release (scheduled for 8:30 am Friday morning) and that this statement by Gibbs is very rare. Leisman is unsure if the White House has already seen the report or is basing the comments on other indicators.

Stocks have moved to the lows of the day following this report and the ISM Non-Manufacturing data showing the services sector contracted in November.

 

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