NFP previews coming up around the place today, these from earlier:
- Goldman Sachs US Nonfarm payroll preview
- US nonfarm payroll data due Friday 5 October 2018 - preview
This one via RBC;
- There is nothing in the highfrequency data to suggest we will deviate much from the current 200k pace of payroll growth in September. In fact, initial jobless claims for unemployment insurance continue to hit fresh all-time lows on a weekly basis. This is in concert with job openings that continue to post all-time highs and are now near the 7 million mark. There are now more job openings than there are folks on the u-3 unemployment rolls-an unprecedented development. Look for the substantial degree of labor tightening to continue to exert upward pressure on wages. While hourly earnings can be volatile month-to-month, we expect wage growth will breach 3% y/y by late 2018/early 2019.
