Bloomberg Daybreak: Europe Edition Daybreak Weekend: Jobs Preview, Paris Conference, BOJ Decision
Dec 12, 2025
Michael McKee, Bloomberg's international economics and policy correspondent, dives into the complexities of the upcoming U.S. jobs report and its confusing payroll data. Ben Sills, managing editor for European Government and Economy, addresses Europe's response to U.S. economic criticism and highlights the need for reforms amid transatlantic tensions. Paul Jackson, a Tokyo-based reporter, analyzes the Bank of Japan's potential policy shifts, rising inflation, and the economic ripple effects tied to China-Japan relations. It's an insightful exploration of global economic drivers!
AI Snips
Chapters
Transcript
Episode notes
Jobs Report Will Be Statistically Complicated
- The November jobs report will be confusing because October data gaps force the BLS to splice incomplete months together.
- Michael McKee warns markets and the Fed must treat the results cautiously due to household survey holes.
Treat November Jobs With Skepticism
- Don't take the November payrolls at face value; the Fed will analyze underlying data before policy moves.
- McKee notes the Fed won't meet again until January, so December data will guide decisions.
Big Firms Show, Small Jobs May Vanish
- Large firms' electronically reported payrolls will show up, but small-business and construction counts may be missing.
- That could distort totals, especially for home health care, a major recent job creator.