Economists See 75,000 October Jobs Added as Inflation Keeps December Fed Hike in Play
Updated
Updated · CNBC · Nov 1
Economists See 75,000 October Jobs Added as Inflation Keeps December Fed Hike in Play
2 articles · Updated · CNBC · Nov 1
Summary
Friday’s U.S. payrolls report is expected to show 75,000 October job gains, with unemployment holding at 4.2% in a closely watched read on labor-market resilience.
Inflation remains well above the Fed’s 2% target, leaving investors focused on whether hiring stays firm enough for policymakers to keep tightening after holding rates steady last week.
CME FedWatch on Friday showed just under 75% odds of a quarter-point December rate hike, making this week’s labor data central to rate expectations and stock-market sentiment.
Tuesday’s September JOLTS report and Wednesday’s ADP private-payrolls data will shape expectations ahead of payrolls, alongside ISM manufacturing and services surveys.
The jobs data lands during a heavy earnings week for companies including Apple, Eaton, DuPont, Cardinal Health and Kimberly-Clark, while Tuesday’s midterm elections add another market risk.