US OCTOBER NONFARM PAYROLLS: ECONOMISTS EXPECT 59,000 NEW JOBS

The US October nonfarm payrolls report is due at 8:30 a.m. Eastern Time, with economists expecting 59,000 new jobs, nearly double September's 29,000. The unemployment rate is forecast to remain at 4.2%. September's payroll growth fell short of the 93,000 market forecast, while July and August figures were revised down by a combined 60,000 jobs. ADP reported 86,000 private-sector jobs added in October, exceeding its 75,000 forecast. However, estimates for the official report range from 50,000 at Barclays to 95,000 at RSM. Deutsche Bank expects 55,000 jobs, Wells Fargo forecasts 65,000, and MUFG Research projects 90,000. For unemployment, most forecasts point to 4.2%, while Barclays expects a slight decline to 4.1%.

6 Nov 20261 min read

Daily Market Update November 6, 2026

US OCTOBER NONFARM PAYROLLS: ECONOMISTS EXPECT 59,000 NEW JOBS

The US October jobs report is due today at 8:30 a.m. Eastern Time. Economists expect 59,000 new jobs, about double September’s 29,000, while the unemployment rate is forecast to hold at 4.2%, according to Kiplinger.

September is the reference point. The US added 29,000 jobs, missing the market forecast of 93,000 by 64,000. July and August payroll figures were also revised downward, leaving a combined 60,000 fewer jobs than previously reported. The unemployment rate increased from 4.1% to 4.2%.

ADP’s private-sector report, released ahead of today’s official data, showed 86,000 jobs added in October, 11,000 above the 75,000 forecast and below September’s 90,000, according to Kiplinger.

Forecasts vary, from 50,000 at Barclays to 95,000 at RSM, a gap of 45,000, according to Kiplinger. Deutsche Bank expects 55,000 jobs and Wells Fargo projects 65,000. MUFG Research expects 90,000, above the Bloomberg contributors’ median estimate of 65,000 and the three-month average of 51,000. For unemployment, MUFG Research and Wells Fargo expect the rate to remain at 4.2%, while Barclays forecasts a decline to 4.1%.

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