October Employment Preview

On Friday at 8:30 AM ET, the BLS will release the employment report for October. A key question is how much did hurricanes Harvey and Irma impact employment in September - and how much will employment bounce back in October. Merrill Lynch economists expect the following: We forecast that nonfarm payrolls increased by 350k in October fully reversing the decline owing to hurricanes in September. We look for the unemployment rate to edge back up to 4.3% after an unexpected drop in September. On wages, we expect average hourly earnings to increase by 0.3% mom bringing the year over year rate to......(read more)

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