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US OUTLOOK/OPINION: [RPT] MNI US Payrolls Preview: Risks Of Upside U/E Surprise

US OUTLOOK/OPINION
  • Today sees some further labor market data including Challenger job cuts/hire announcements at 0730ET, weekly jobless claims at 0830ET and the employment component of the ISM Services index at 1000ET.
  • We take this opportunity to re-up the MNI Payrolls Preview that was published yesterday ahead of Friday's payrolls report, which includes analysis of recent important labor releases.
  • The Bloomberg whisper number has increased from ~130k earlier this week to 142k at typing, likely biased higher by yesterday's ADP release for private employment which printed 143k vs consensus of 125k for September. 

https://media.marketnews.com/USNFP_Oct2024_Preview1_bb6bbc0e4e.pdf

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  • Today sees some further labor market data including Challenger job cuts/hire announcements at 0730ET, weekly jobless claims at 0830ET and the employment component of the ISM Services index at 1000ET.
  • We take this opportunity to re-up the MNI Payrolls Preview that was published yesterday ahead of Friday's payrolls report, which includes analysis of recent important labor releases.
  • The Bloomberg whisper number has increased from ~130k earlier this week to 142k at typing, likely biased higher by yesterday's ADP release for private employment which printed 143k vs consensus of 125k for September. 

https://media.marketnews.com/USNFP_Oct2024_Preview1_bb6bbc0e4e.pdf