Economists See 65,000 October Jobs Gain as 4.2% Unemployment Keeps Fed on Track
Updated
Updated · Yahoo Finance · Nov 5
Economists See 65,000 October Jobs Gain as 4.2% Unemployment Keeps Fed on Track
3 articles · Updated · Yahoo Finance · Nov 5
Summary
65,000 jobs were expected to be added in October, up from September’s 29,000, while the unemployment rate was seen holding at 4.2% and wage growth improving 0.3%.
That mix would extend the labor market’s “low hire, low fire” pattern: hiring remains subdued, but jobless claims have stayed historically benign and broad layoffs appear contained.
Construction and manufacturing tied to the AI build-out are expected to keep supporting payrolls, even as AI-related displacement continues to weigh on hiring in finance and information.
A solid report would bolster the case for a Dec. 9 Fed rate hike, with traders pricing a 67% chance of a 25-basis-point increase as policymakers also await inflation and November jobs data.