Economists surveyed by the media expect that the number of hiring in the United States will show an increase as a result of September.
Also, experts interviewed by journalists predict that the unemployment rate for the past month in the US will be fixed at 4.2%. In this case, the stability of the indicator is implied in comparison with the August data. It is also worth noting that the implementation of the forecast of economists interviewed by the media would eliminate concerns that labor demand is deteriorating in the United States.
Nonfarm payrolls, according to the mentioned experts, increased by 150,000 in September. The corresponding indicator is the statistical average in the context of the expectations of the economists with whom the journalists talked. It is worth noting that the result projected by experts is the highest in the last four months. In August, nonfarm payrolls increased by 142,000.
It is worth noting that the slowdown in the area of hiring and the rising unemployment rate were the main factors that impacted the decision of the Federal Reserve System to begin easing its monetary policy strategy. As part of this decision, last month the central bank of the United States cut interest rates by half a point. It is worth noting that this scale of initial lowering of the cost of borrowing exceeded the preliminary expectations of experts.
Fed Chairman Jerome Powell said he would not like to see further weakening in the United States labor market.
The range of forecasts of experts interviewed by the media regarding September payroll growth is fairly wide, from 70,000 to 220,000.
The report, which confirms or refutes the assumptions of economists, will be published on Friday, October 4, by the Bureau of Labor Statistics.
Currently, experts are closely monitoring industries that are contributing to job creation as they recover from the coronavirus pandemic. The category of so-called catch-up sectors includes education, state and local government, and health care.
