Jobs Report, Wage Growth and Unemployment Rate in Focus Friday By Investing.com

As traders approach another pivotal day for the financial markets, Friday, October 4, 2024, a number of crucial economic data are expected that could influence market dynamics. The US labor market will be in the spotlight with the release of key employment figures, including non-farm payrolls, the unemployment rate and average hourly earnings. These reports are likely to provide valuable insights into the health of the US economy and could influence the Federal Reserve’s policy decisions.

Major economic events to watch

• 8:30 AM ET – Non-Farm Payrolls (September): 148,000 expected, 142,000 previous. Measures the change in employment, excluding the agricultural industry.

• 8:30 a.m. ET – Unemployment rate (September): Estimated 4.2%, previous 4.2%. The percentage of the total labor force that is unemployed and actively looking for work.

• 8:30 AM ET – Average hourly gains (month) (September): 0.3% expected, 0.4% previous. It measures the change in the price that businesses pay for labor.

Other important economic events to watch

• 8:30 a.m. ET – Private nonfarm payrolls (September): 125,000 est., 118,000 previous. It measures the change in employment in the private sector.

• 8:30 AM ET – Average hourly gain (yearly) (September): 3.3% expected, 3.8% previous. Changing salaries from year to year.

• 8:30 AM ET – Participation Rate (September): Previous 62.7%. It measures the share of the working-age population that is working or looking for a job.

• 9:00 AM ET – FOMC Member Williams speaks. Comments from the Fed president in New York could provide insights into monetary policy.

• 1:00 PM ET – Baker Hughes US Rig Count: Previous 484. Indicator of demand for petroleum products.

• 1:00 PM ET – Total US Baker Hughes rig count: 587 prior. Total number of active drilling rigs.

• 3:30 PM ET – CFTC S&P 500 Speculative Positions: Previous -35.8K. Indicates market sentiment for S&P 500 futures.

Other economic events to watch

• 8:30 AM ET – Manufacturing Payrolls (September): Expected -5,000, Previous -24,000. Employment change in the manufacturing sector.

• 8:30 AM ET – Government payrolls (September): Previous 24.0K. Changing government employment.

• 8:30 AM ET – Weekly Average Hours (Sept): 34.3 expected, 34.3 previously. Average number of hours worked by employees.

• 8:30 a.m. ET – U6 Unemployment Rate (September): Previous 7.9%. The broader measure of unemployment, including marginally attached workers.

• 3:30 PM ET – CFTC Aluminum Speculative Net Positions: Previous 3.9K. Indicates market sentiment for aluminum futures.

For more information and the latest updates, please see our Economic Calendar here.

This article was generated with support from AI and reviewed by an editor. For more information, see T&C.