This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.
https://www.wsj.com/economy/jobs/what-to-watch-in-fridays-jobs-report-how-long-can-labor-market-keep-booming-344f5a1aAllison Joyce/Bloomberg News Employers pulled back on hiring in October while handing out smaller annual raises, analysts said, which would be indications the labor market is slowly losing momentum.
Economists surveyed by The Wall Street Journal estimate employers added 170,000 jobs in October, down from a surprisingly strong 336,000 new jobs in September. Thecould account for some of the decline because striking workers aren’t counted on payrolls. Economists see the unemployment rate holding steady at 3.8%.
Wage growth has trended down since early last year. Economists estimate average hourly earnings rose 4% in October from the previous year, down from 4.2% in September. On a month-to-month basis, they see wage growth ticking up slightly.to raise rates further. The Labor Department is set to release the October employment report at 8:30 a.m. Eastern time Friday.Forecasters predicted 2023 would be a recession year in the U.S., as Americans faced higher borrowing costs.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TODAYshow - 🏆 389. / 55 Read more »