Here's what 16 top Wall Street economists are expecting from Friday's jobs report by Bob Bryan on Oct 1, 2015, 8:45 AM Advertisement
 On Friday, we'll learn how many jobs were created in September by US firms. The consensus expectation is for 200,000 new nonfarm payrolls, the lowest level since March 2014. Gains are expected to be driven by the addition of 198,000 private payrolls. Lately, the jobs report has gained heightened importance as it has the potential to sway the Federal Reserve's plan for monetary policy. The Fed meets on October 27 and 28. While most do not expect the Fed to hike rates at that meeting, Fed Chair Janet Yellen has confirmed that October hasn't been ruled out. We'll certainly get a better sense of what's to come after we get the September jobs report. To get you ready, we've complied the forecasts from 16 of the top Wall Street economists. Everyone is expecting improvement from last month's headline number of 173,000. Expectations for September's gains range from 180,000 to 225,000. Check out all of the estimates below. Steve Englander, Citi Non-Farm Payroll Gains: 180,000 Unemployment Rate: 5.1% Comment: "Combining the impact of non-farm payrolls and average hourly earnings, we would argue that 180k combined with accelerating hourly earnings should be very negative equities and risk, and positive defensive currencies. The reason is that it supports the view that the slowing employment gains reflect supply, rather than demand, reinforced by rising wages. It may take investors a while to realize that this is the Fed’s second worst nightmare, as it means that they ‘succeeded’ and now have to move policy settings to neutral … or worse"
Maury Harris, UBS Non-Farm Payroll Gains: 180,000 Unemployment Rate: 5.0% Comment: "The downward bias to the first prints of August payrolls is well documented and we project an upward revision of 50k to August. However, payrolls probably slowed again in September, reflecting payback for exaggerated increases in education payrolls. The unemployment rate probably fell again. We project a solid gain in average hourly earnings and a still-long workweek."
Lewis Alexander, Nomura Non-Farm Payroll Gains: 180,000 Unemployment Rate: 5.1% Comment: "In September, incoming data on labor markets have been mixed, and not suggestive of an above-200k gains in payrolls. Although initial and continuing jobless claims data are at low levels, survey data have been negative and economic momentum appears to have slowed from August."
See the rest of the story at Business Insider
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