United States' employment report for October is scheduled to release on November 6, 2016.
"Headline payrolls for the economy is expected to rise by 175k, private payrolls to increase by 160k, and government payrolls to expand by 15k. Relative to the 142k pace of payroll growth in September, our forecast is consistent with the recent reduction in financial market stress. Other factors point to an improvement in payroll growth over the 142k and 136k rate of expansion in September and August, respectively, including initial and continuing claims", says Barclays.
The four-week moving average of initial jobless claims fell modestly in the October survey week, as did continuing claims. Jobless claims data continue to signal that soft external activity is not causing firms to shed labor, but it remains to be seen how quickly firms will resume a more robust pace of hiring.
Analysts expectation is for a modest improvement on that front. The unemployment rate is expected to decline by one-tenth, to 5.0%; average hourly earnings to rise by 0.3% m/m; and average weekly hours to remain unchanged at 34.5, added Barclays.
