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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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There is little so far in today's data to dent confidence in the labor market, ahead of Friday's employment report which is expected to deliver another solid nonfarm payrolls figure.
- Challenger Job Cuts for October rose to a post-Feb 2021 high of 33.8k, but that's still at levels that are consistent with the scale of job cuts at the strongest point of the pre-pandemic job market.
- With initial jobless claims at 217k last week vs 218k prior, both the current level and the 4-week average of claims are around pre-pandemic averages - see chart. Though note that's not particularly important for Friday's employment report: claims did pick up in the nonfarm survey week earlier in October, in part due to a hurricane.
- Attention turns to ISM Services (1000ET) for further indications of labor market tightness in the services sector.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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