Job growth more than likely slowed in November. However most estimate that it was not likely to have been so sluggish to stop the Fed from raising interest rates this December.

This Friday’s jobs report is one of the most anticipated employment reports of the whole year. In fact it is the most important data the Fed will see before it meets on Dec. 15 and 16 to consider its first rate hike in nine years.

Most economists expect that 200,000 non-farm payrolls and an unchanged unemployment rate that is about 5 percent, after a surprisingly strong 271,000 new jobs last month is some of what we will see.  They also expect average hourly wages to rise about 0.2 percent, this after a surprise jump of 0.4 percent in October.

The jobs report, will be released at 8:30 a.m. EST on Friday and is coming against a wild backdrop of cross currents in the financial markets.

There is also international trade at 8:30 a.m. ET.