Friday preview: US non-farm payrolls to dominate headlines

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Sharecast News | 01 Oct, 2015

Updated : 16:20

The US non-farm payrolls report on Friday will be under the microscope as the Federal Reserve looks for signs of improvement in the labour market before raising interest rates.

The Labor Department report is expected by analysts to show that US employers added 202,000 jobs in September, which would mark a pick-up from the previous month’s 173,000. The unemployment rate is projected to remain at 5.1% in September.

Average hourly earnings are forecast to rise 2.4% in September compared to the same month a year ago, following a 2.2% rise in August.

September’s figures may influence this month’s Federal Reserve decision on interest rates. Fed Chair Janet Yellen has said a rate hike is expected by the central bank this year. The Fed meets on 27-28 October and in December.

The official monthly jobs data follows the private payrolls report from ADP on Wednesday, which showed the US economy added 200,000 new jobs in September. Economists were expecting an increase of about 190,000 vs. a revised 186,000 gain in August.

The initial jobless claims report on Thursday showed number of first time unemployment benefits claimants in the US rose by more than expected last week. According to the Labor Department, new claims rose by 10,000 to 277,000 in the week to 26 September, compared with analysts' expectations for a 270,000 reading.

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