Investing.com — U.S. job growth is seen slowing sharply in October, possibly boosting expectations that the Federal Reserve may hold off on any further interest rate hikes this year.
Economists estimate that the closely-watched nonfarm payrolls report from the Labor Department’s Bureau of Labor Statistics will show that employers in the world’s largest economy added 180,000 jobs during the month, down from a bumper figure of 336,000 in September. The unemployment rate is also seen at 3.8%, matching the prior month, while average hourly earnings are expected to have increased by 0.3% month-on-month in October, following a 0.2% gain in September.
Fed officials will likely be monitoring the job numbers carefully, as they may provide insight into whether the U.S. central bank’s unprecedented run of policy tightening is causing economic activity to cool.
Meanwhile, any signs…
