The RSM forecast of the October U.S. jobs report anticipates a net gain of 95,000 jobs on the month, or nearly three times the number needed to keep the labor market stable. The remarkable stability in jobless claims amid the robust 3.4% growth in the economy during the third quarter of the year suggests that conditions are ripe for an increase in demand for labor. In addition, the data will be compared to that of a year ago, when the government was shut down, so there is the chance that the monthly figure may come in higher than 95,000. Get Joe Brusuelas’s Market Minute commentary every morning. Subscribe now . The household estimate should result in a 4.2% unemployment rate which reflects an economy at full employment within a context of an 11.
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