US NFP Expected at 190,000

The U.S. labor market appears to be a tugboat, churning ahead through stormy overseas economic waves.

This week’s employment report for September is expected to produce another solid gain in jobs: economists surveyed by MarketWatch predict a 190,000 increase. The unemployment rate is likely to remain at 5.1%.

“There is nothing telling me we’re about to veer away from where we were,” either toward a bigger increase in jobs or a slowdown, said Kevin Logan, chief U.S. economist at HSBC.

Logan expects a loss of manufacturing and oil-patch jobs given the fall in oil prices and the strong dollar. But strong gains in the domestic service sector should more than make up for losses there.

Via MarketWatch

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza