A preview of Friday's (03 November 2017) NFP due at 1230 GMT US (NY) time
- NFP due Friday US time - previews
- Welcome to NFP Friday - preview (via Goldman Sachs)
- Its NFP Friday - previews
This time, Reuters with some info. Their survey consensus
- Nonfarm payrolls forecast increasing 310,000 in October
- Unemployment rate seen unchanged at 4.2 percent
- Average hourly earnings expected to increase 0.2 percent & 2.7% y/y
- U.S. job growth likely rebounded sharply in October after hurricane-related disruptions depressed employment in September (Payrolls declined by 33,000 jobs in September, the first drop in seven years, as employment in the leisure and hospitality sector tumbled by a record 111,000 ... drop was blamed on hurricanes Harvey and Irma, which devastated parts of Texas and Florida in late August and early September, leaving workers mostly in lower-paying industries temporarily unemployed)
- A rebound in employment growth in October would reinforce the Fed's assessment on Wednesday that "the labor market has continued to strengthen and that economic activity has been rising at a solid rate despite hurricane-related disruptions."
- "It will confirm the Fed's view of solid growth, meaning they are on track to raise interest rates in December," said Bricklin Dwyer, a senior economist at BNP Paribas in New York. "While distorted by storms, the overall picture is of an economy that is reaccelerating in the second half of the year."
- "Some of September's upside represented a compositional bias as more lower-paying industries were impacted by the storms, shifting the mix of workers toward higher-paying industries and biasing average hourly earnings higher," said Ellen Zentner, chief U.S. economist at Morgan Stanley in New York
- "Companies are having a tough time filling job openings," said Joel Naroff, chief economist at Economic Advisors in Holland, Pennsylvania.