It’s the best week of the month: JOBS WEEK.Fresh data on the labour market in the US comes out today, tomorrow, and of course Friday, when the BLS Non-Farm Payrolls report for October is released.
We start off today with two small offerings.
First at 7:30 AM is the Challenger Job Cuts report. Last month was very ugly, with YOY layoffs spiking by 211.5%, but that was distorted by two big numbers, and ultimately that layoff number didn’t translate into an uptick in initial claims.
The more closely watched number will come out at 8:15, when ADP releases its estimate of private payrolls. Say all you want, but ADP has been fairly bang-on with regards to anticipating the jobs report on Friday.
Analysts are expecting 100K new private sector jobs, up a bit from the 91K seen the month before.
Obviously we’ll have the numbers LIVE as they come out.