Bank of America: Non-farm payrolls are expected to rise sharply in November

Bank of America economists say investors should keep an eye on the two-month growth rate when the November jobs report is released on Friday, especially given the risk of a major revision to the October data. A Wall Street Journal survey shows the U.S. is expected to record an increase of 214,000 non-farm payrolls in November, up from 12,000 in October. Bank of America expects the number to exceed 240,000 due to the impact of the hurricane and the Boeing strike. It also expects the labor force participation rate to rebound, taking the unemployment rate to 4.2 percent from 4.1 percent, in line with the Wall Street Journal's expectations. Bank of America said jobless claims rose under the hurricane, but have since declined, indicating a rapid economic recovery.