BMO's Ian Lyngen and Aaron Kohli....>

US DATA PREVIEW: BMO's Ian Lyngen and Aaron Kohli on Fri Oct jobs: anecdotes

"are skewed decidedly stronger with 8 positive proxies vs 3 negative ones. The

constructive anecdotes include ADP, Claims as well as Labor Differential (best

since 2001)" but "we won't see ISM non-manufacturing until after the release and

it really all comes down to the unwind of the hurricane impact at this stage."

- They eyed positive ones: "1) ADP Employment Change increased

more-than-expected at +235k in Oct vs. +110k revised-Sept, +200k consensus. 2)

Empire State Emplymt increased to 10.6 Oct vs 6.2 Sept. Average Workwk decreased

to 5.7 Oct vs. 10.9 Sep 3) Initl Claims for NFP-survey wk were lower at 223k Oct

vs 260k Sep 4) Continuing Claims for Oct NFP-survey wk lower at 1.899 mm vs

1.911 mm Sep 5) Oct Challenger Job Cuts dropped vs 2016 at -3.0% YoY vs. -27.0%

Sep; MoM level change -2.5k vs. -1.5k prior. 6) Labor Differential:

Jobs-Hard-to-Get minus Plentiful rose to 18.8 Oct vs. 14.7 Sep; highest since

2001. 7) Phil.Fed # Employees increased to 30.6 Oct vs. 6.6 Sept.Avg workwk rose

to 19.4 Oct vs 11.9 Sep 8) Historically Nov. Unemplmt Rate (Oct data) came in

lower-than-expected 45%, higher 20%, as-expected bal."