BLS Set to Release October Jobs Report as Economists Forecast 59,000 New Jobs
Updated
Updated · Kiplinger's Personal Finance · Nov 5
BLS Set to Release October Jobs Report as Economists Forecast 59,000 New Jobs
3 articles · Updated · Kiplinger's Personal Finance · Nov 5
Summary
Friday’s 8:30 a.m. ET BLS report is expected to show 59,000 jobs added in October, with the unemployment rate holding at 4.2%.
That would mark only a modest rebound from September’s 29,000 gain, after July and August payrolls were revised down by a combined 60,000 jobs.
ADP’s October private-payroll estimate came in at 86,000, topping the 75,000 consensus and offering a somewhat firmer signal ahead of the official release.
Fed Chair Kevin Warsh still described labor conditions as quite positive, citing historically low jobless-claims averages even after September’s weaker-than-expected report.
Wall Street forecasts remain split—from about 50,000 to 95,000 jobs—with several economists arguing sub-100,000 monthly gains may now be the labor market’s new normal.