NFP: Payrolls likely to have continued to lose steam in October – TDS – by MSalordFX NFP Banks
“We expect payrolls to have continued to lose steam in October , reflecting modest deceleration vs the 263K print registered in September. We look for October's deceleration in job creation to also be reflected in a jump in the unemployment rate to 3.7% following its new drop to 3.5% in September. We are also forecasting wage growth to accelerate to 0.4% m/m, but to slow to 4.7% on a y/y basis.”is likely not enough to justify major upside pressure.
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