US Nonfarm Payrolls Expected to Pick Up In October

The U.S. Bureau of Labor Statistics is scheduled to release October nonfarm payrolls data on Friday at 13:30 GMT, with the report expected to show a 65,000-job increase after September’s 29,000 gain. The unemployment rate is forecast to hold at 4.2%, while average hourly earnings are projected to rise 0.3% from 0.1%. The Federal Reserve left its policy rate at 3.75%-4% after its October meeting, and Chair Kevin Warsh called labor market conditions positive while saying policymakers are focused mainly on price stability. Markets widely expect a 25-basis-point Fed rate increase in December, and TD Securities expects October payrolls to remain subdued at 40,000.