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Expand chart
Data: BLS, ADP; Chart: Andrew Witherspoon/Axios

Most economists polled are on record predicting the U.S. added 150,000 to 180,000 jobs in November, but following Wednesday's ADP private payrolls report, which came in strongly below estimates, some are bracing for a weak number.

The big picture: Cailin Birch, global economist at The Economist Intelligence Unit, expects job creation softened significantly last month and that the economy is slowing — though she sees a "minor risk" of a looming recession.

  • "The prospects for the US economy in 2020 are fairly mediocre; we do not expect business investment to improve until there is greater clarity on the future of US trade policy and the next steps in the US-China trade war, which is unlikely until 2021," she says in an email.
  • "That said, consumer demand shows no sign of flagging, and this should help to shore up overall growth and job creation, preventing a sharper slowdown in 2020."

Yes, but: Some economists expect the jobs report to outpace expectations because of the resolution of the UAW strike at GM plants across the country, putting job gains above 200,000 and giving a boost to lagging manufacturing jobs.

Go deeper: The U.S. services sector is holding on

Go deeper

Battle for the soul of a new web

Illustration: Aïda Amer/Axios

A well-funded and intensely motivated chunk of tech's hive mind is finding common cause in a vast new project: rebuilding the web on a foundation of cryptocurrency and blockchain tech. They call it "Web3."

The big picture: Developers, investors and early adopters imagine a future in which the technologies that enable Bitcoin and Ethereum will break up the concentrated power today's tech giants wield and usher in a golden age of individual empowerment and entrepreneurial freedom.

Thanksgiving box office shows theaters have long road to recovery

Photo of Disney's "Encanto;" Credit: Disney

Box office ticket sales over the Thanksgiving holiday show that consumer confidence in moviegoing is slowly improving, but not enough to bring the struggling theater industry back to pre-pandemic levels anytime soon, if ever.

Why it matters: "We may have to temper expectations a bit" for next year, said Comscore senior media analyst Paul Dergarabedian.

Tina Reed, author of Vitals
36 mins ago - Health

Omicron adds urgency to vaccinating world

Photo: Phill Magakoe/AFP via Getty Images

The emergence of the Omicron variant is bringing new urgency to global vaccination efforts.

Why it matters: New variants can emerge anywhere, and can spread everywhere. Getting doses to the developing world — and getting those doses into people's arms — is essential, and that effort has so far been lagging.

You’ve caught up. Now what?

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