Bloomberg Daybreak: Asia Edition Daybreak Weekend: Jobs Preview, Paris Conference, BOJ Decision
18 snips
Dec 12, 2025 
Michael McKee, Bloomberg's international economics correspondent, dives into the delayed U.S. jobs report, highlighting how government shutdowns create data gaps and affect monetary policy. Ben Sills, managing editor for European economics, discusses the critical upcoming Conference of Paris amid weak growth and U.S. critiques on European security. Paul Jackson, a Tokyo-based reporter, unpacks potential Bank of Japan rate hikes and the implications of inflation and currency dynamics in Japan, stressing the risk of Japan lagging behind global trends.
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Expect Confusing November Jobs Data
- The November payrolls release will be unusually messy because the BLS must combine partial October data with November figures.
- Michael McKee warns markets and the Fed to treat the report cautiously due to household survey gaps and statistical anomalies.
Treat November Jobs With Caution
- Don't take the November payrolls at face value; the Fed will need to analyze underlying details before acting.
- Wait for December's complete report ahead of the Fed's January meeting for a clearer picture.
Large Firm Data Will Dominate Reliability
- Computerized payroll data from large firms will be more reliable than small-business or construction counts.
- Home health care and small-business hiring may be distorted, skewing the headline jobs number.