NFP: US economy to add 593K jobs in October – Goldman Sachs

The Goldman Sachs analysts expected the headline US NFP figures to top 500K while predicting the jobless rate to drop to 7.6% in October. The labor market report is scheduled for release later on Friday at 1330 GMT.

Key quotes

“Expectations center of 593K and 7.6% for the twin headlines.”

“High-frequency labor market information indicating a further deceleration in job growth.”

“A drag from the virus resurgence and "fiscal fizzle."

• Nonfarm Payrolls Preview: Encouraging data but little action expected