The Zhitong Finance App notes that the number of non-farm payrolls in the US may have rebounded in October, but wage growth is expected to slow below 3.0%, the first time in nearly five and a half years. This will reinforce the view that the labor market is not a source of inflation. The high-profile employment report to be released by the Department of Labor on Friday is also expected to show that the unemployment rate remained unchanged at 4.2% last month, and is likely to have fallen to 4.1%. The historically low number of layoffs and the recent surge in job vacancies have raised the possibility that the labor market will tighten.
Zhitongcaijing · 3d ago
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The Zhitong Finance App notes that the number of non-farm payrolls in the US may have rebounded in October, but wage growth is expected to slow below 3.0%, the first time in nearly five and a half years. This will reinforce the view that the labor market is not a source of inflation. The high-profile employment report to be released by the Department of Labor on Friday is also expected to show that the unemployment rate remained unchanged at 4.2% last month, and is likely to have fallen to 4.1%. The historically low number of layoffs and the recent surge in job vacancies have raised the possibility that the labor market will tighten.
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