The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

In this Thursday, Nov. 14, 2013, file photo, retired U.S. Navy Chief Jerome Porter, right, of Atlanta, talks with Joe Corsino, executive director of Welcome Home Resumes, during a job fair for veterans at the VFW Post 2681, in Marietta, Ga. The government’s monthly survey of the U.S. job market for November, will be important for Wall Street.
In this Thursday, Nov. 14, 2013, file photo, retired U.S. Navy Chief Jerome Porter, right, of Atlanta, talks with Joe Corsino, executive director of Welcome Home Resumes, during a job fair for veterans at the VFW Post 2681, in Marietta, Ga. The government’s monthly survey of the U.S. job market for November, will be important for Wall Street.
(David Goldman/AP)

Three scenarios for Friday’s crucial U.S. jobs report

The U.S. economy has been posting some monster numbers, and this week’s data might be the final blow to wipe out any resistance lingering among Federal Open Market Committee members towards starting the tapering of its stimulus program later this month. All of this hinges on tomorrow’s monthly barnburner of a statistic: the U.S. non-farm payrolls report. A robust number will make it hard for the Fed to resist a small taper, if for no better reason than to get it out of the way before Federal Reserve chairman Ben Bernanke exits and traders close their books on 2013.