Barclays looking for a 125K nonfarm payroll headline

[forex4you]

Barclays looking for a 125K nonfarm payroll headline

Barclays: What We Expect from the US October Jobs Report on Friday

Synopsis:

Barclays forecasts a deceleration in October's nonfarm payrolls to 125k, down from September's 254k, with employment impacted by the Boeing strike and recent hurricanes. Wage growth is expected to remain steady, while the unemployment rate may tick up due to temporary disruptions.

Key Points:

• Nonfarm payrolls projected to rise by 125k, with private payrolls increasing by 100k as labor disruptions impact the data.
• Average hourly earnings growth anticipated at 0.4% m/m (4.1% y/y), with the workweek expected to decline slightly to 34.1 hours.
• Unemployment rate forecasted to increase to 4.2%, partly due to temporary effects from strikes and hurricanes.

Conclusion:

Barclays expects October's jobs report to reflect temporary slowdowns from external factors, with a moderate payroll increase and a slight uptick in the unemployment rate. Despite these impacts, wage growth remains steady, indicating underlying resilience in the labor market.

--

For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here.

--

Coming up on Friday:

                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: Barclays looking for a 125K nonfarm payroll headline

forexlive.com