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The U.S. labor market has been roughly stable for the past six months, and October's nonfarm payroll report is not likely to derail that. JOLTS report, weekly jobless claims, and the ISM surveys are all pointing to a market with low hiring and low layoffs. To put it one way, "The consensus still is not inspiring," said Dan North, chief economist at Allianz Trade North America, in an interview with Seeking Alpha. The U.S. economy is expected to add 62K jobs in October, according to the consensus estimate of economists. That would mark an improvement from the Bureau of Labor Statistics' initial estimate of 29K for September. "It used to be a lot more was required to get to full employment," North noted.
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