Nonfarm payrolls to add 172k? - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that time has come again for the release of the monthly US employment report.

Key Quotes:

"The US Nonfarm Payrolls will be released this Friday, and economists are expecting the US to have added around 172,000 new jobs in September following a 151,000 increase in August. Also, the unemployment rate is forecast to remain at 4.9%, while average  hourly earnings, year-on-year, are predicted to rise 2.6% year-on-year in September after a 2.4% gain the previous month, and to advance up to 0.3% in the month from the disappointing 0.1% in August.

Employment data released over the last month have not been particularly encouraging during the past month, with the ADP survey showing that US businesses added 154,000 jobs in September, the slowest pace of hiring since April, suggesting hiring is slowing now that the sector has stabilized near full employment. But that is good news, and a moderate advance won't harm much the greenback."