The Administration is ready to make a big deal out of the November jobs report, which shows a gain of 132,000 jobs, though the unemployment rate edged up to 4.5%. Per the AP, "The increase in payrolls was stronger than the 105,000 jobs that economists were expecting. Analysts were anticipating a rise in the jobless rate, however." CNBC's Patti Domm advises that investors have been heavily focused on the jobs report, hoping to get a clear message on the economy's strength after a batch of mixed signals from recent economic data.
Presidential candidate and incoming Senate Banking chair Chris Dodd said yesterday that he wants Treasury Secretary Hank Paulson "to return from a visit to Beijing with firm progress" on persuading China's government to revalue its currency, says the Financial Times.