Markets Await September US Jobs Report as Hiring Is Projected to Slow

Financial markets are focused on Friday's U.S. September jobs report as economists anticipate a deceleration in hiring. Consensus estimates project nonfarm payroll growth between 84,000 and 89,000, down from August's 162,000 gain, while the unemployment rate is projected to hold steady at 4.1%. Average hourly earnings are forecast to rise 0.3% month-over-month and 3.1% year-over-year. Amid historically low layoffs and weekly jobless claims of 197,000, Federal Reserve officials see no immediate urgency for an October interest rate hike, leading markets to push rate-increase expectations toward December.