The US will release the latest employment report (for October) at 8:30 AM ET/1230 GMT.
Here are the expectations:
Change in Non-farm payroll, 200K vs 134K last month
Unemployment rate 3.7% vs 3.7% last month
Underemployment rate was 7.5% last month. No estimate
Average hourly earnings MoM 0.2% vs 0.3% last month
Average hourly earnings YoY 3.1% vs 2.8% last
Participation rate 62.7% vs 62.7%
Change in Manufacturing payrolls 16K vs 18K last.
Some hints from other employment data:
ADP employment came in stronger than expected at 227K vs 187K expected. The ADP and the NFP can diverge. For example, last month the ADP came in at 217K while the NFP was lower at 134K. In August, the NFP was up at 270K while the ADP was much lower at 161.7K
So on the surface, given the employment data seen in other reports, the estimate seems to confirm yet another solid report tomorrow for non-farm payroll.
Remember also, that with the unemployment rate down at 3.7%, it is harder to add jobs. That means even if the number comes out weaker than the expected 200K (say 170K), it may be less, but it is still solid. If on the other hand, the number comes out stronger than 200K, it will be really impressive.
Picture: pexels.com
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.