US: Nonfarm payrolls to increase by 150k in September – TD Securities
|Analysts at TD Securities are expecting the US Nonfarm Payrolls to increase by 150k in September, following the below-consensus 130k August print.
Key Quotes
“Reflecting the retrenchment in manufacturing, jobs in the goods sector should stay soft; however, we look for a modest rebound in employment in the services sector. We also note that temporary census hiring for canvassing purposes should continue to boost employment figures this month: we pencil in a 15k increase federal hires.”
“All in, the household survey should show the unemployment rate remaining steady at 3.7% in September, while we forecast wages to rise 0.2% m/m, leaving the annual rate unchanged at 3.2% y/y.”
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