Analysts are expecting the September jobs report to show that job growth in the U.S. has continued to slow over the past month. The Bureau of Labor Statistics is set to release its report on Friday morning.
Consensus estimates compiled by Bloomberg indicate that the jobs report is expected to show that nonfarm payrolls rose by 170,000 in September, with the unemployment rate falling slightly to 3.7%. Both of these figures fall shy of August’s when 187,000 payrolls were added and unemployment rose by 3.8%.
“We expect the September employment report to show a slight deceleration in job growth last month, but it will not be enough to take the risk of a rate hike at the November 1 Federal Open Market Committee meeting off the table,” Oxford Economics lead U.S. economist Nancy Vanden Houten observed. This statement was made in regard to the Federal Reserve’s fiscal policy going forward.