HERE COMES THE JOBS REPORT...
The BLS is set to release the September jobs report at 8:30 am ET.
Here are Wall Street's expectations:
- Nonfarm payrolls: +215,000
- Private payrolls: +210,000
- Unemployment rate: 6.1%
- Average hourly earnings, month-over-month: +0.2%
- Average hourly earnings, year-over-year: +2.2%
- Average weekly hours worked: 34.5
In a note ahead of the report, Ian Shepherdson at Pantheon Macro wrote: "The odds favor a decent but unspectacular payroll report [on Friday]. Most of the recent survey evidence is very strong, and jobless claims are near record lows. But a couple of factors suggest a degree of caution is appropriate... September payrolls tend to undershoot at the initial estimate and then be revised higher... with a median revision of +44K from the first to the second September estimate, over the past five years."
Shepherdson expects nonfarm payrolls to gain 200,000 in September
In August, the jobs report came in light, with nonfarm payrolls growing by just 142,000 against expectations for 230,000 that was expected by economists.
Friday's report also comes on the heels of what has been a rocky week for the stock market, as the Dow, S&P 500, and Nasdaq are all currently lower by about 1.8% so far this week.