ADP employment is expected to rise 188k, just below last month’s 190k increase, projects Credit Suisse.
“ISM manufacturing is projected to have declined for the third consecutive month, dropping to 50.5 (consensus 50.8), its lowest level since May 2013,” CS adds.
“We project Friday’s payrolls to show +195k jobs in September (consensus), up from last month’s +173k, due to strong growth in the construction and service producing sectors. Unemployment is forecasted to remain at 5.1% in line with consensus, while average hourly earnings should increase 0.2% (consensus 0.2%), taking the year over year figure to 2.4%, its highest point since August 2009,” CS adds.
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