The October jobs report is out Friday. Here's everything to expect
Image: CNBC
The U.S. economy isn't expected to have produced much job growth in October, with employers reluctant to hire workers but also not cutting staff amid a shrinking labor force and a growing problem of long-term unemployment.
Economists are looking for a meager nonfarm payrolls gain of 59,000, a slight uptick from the 29,000 jobs produced in September, according to the Dow Jones consensus. That result would continue a pattern of sparse growth.
But that's kind of OK: The forecast also is that the unemployment rate will hold at a very low 4.2% rate, the product of a climate where a stagnant labor force reduces the need for outsized job increases to keep the jobless level steady.
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