Labor Department is due to report on October job growth at 8:30 a.m. ET Friday and economists are looking for another month of sluggish job growth. Those surveyed by Briefing.com forecast employers added only 80,000 jobs in October, and they are looking for the unemployment rate to stay at the 4.7 percent level hit in September.
And many economists say they're not expecting particularly strong jobs readings the rest of this year and going forward into early next year. Economists generally believe that employers need to add between 125,000 and 150,000 jobs a month just to keep up with the growth in the labor force, so prolonged job growth at the levels forecast for October are seen as leading to higher unemployment in the coming months.
No comments:
Post a Comment