US NFP Preview: Headline payrolls to rise by 280K in September – Societe Generale

Dhwani Mehta FXStreet

Analysts at Societe Generale offer their expectations on the upcoming US Nonfarm Payrolls data, which is expected to have a significant market impact.

Key quotes

“We project a 280K gain.”

“The unemployment rate for September is expected to decline to 3.6%.”

“The monthly flows are volatile. If there are no returnees, or if there is a net exodus from the labor force rather than re-entrants, the unemployment rate could drop even more than the 3.6% we project.”

“Wages are expected to rise 0.5% MoM in September. We view the shortfall seen in August, when wages rose 0.3%, as noise in the data rather than the beginning of a new trend.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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