Happy jobs day!
The October jobs report is set for release at 8:30 a.m. ET.
Economists estimate that US nonfarm payrolls grew by 182,000 during the month, according to Bloomberg. This would lift the pace of jobs growth from the unexpected slump we saw over the last two months.
The forecast for the unemployment rate is a drop from 5.1% to 5%, a level that economists consider to be full employment.
Should these play out, the labor market would have seen some "further improvement", and that would satisfy, for now, a crucial part of the Federal Reserve's requirements for an interest rate hike in December.
On Wednesday, Fed chair Janet Yellen reiterated that a rate hike next month was "a live possibility", if economic data point to a stronger labor market and rising inflation.
Average hourly earnings are expected to be a sluggish 0.2% month-on-month, and 2.3% year-on-year.
Ahead of the jobs report, stock futures were little changed, and the dollar was just under the highest level in a decade.