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New employment data released Friday is expected to show a labor market that's holding steady. Economists surveyed by Bloomberg expect that the economy added 65,000 jobs in October, an improvement from September's underwhelming 29,000 additions. The unemployment rate is expected to hold steady at 4.2%, while wage growth is seen improving 0.3% from September. Those numbers would be consistent with the "low hire, low fire" environment that has defined the labor market for the past several years. While few companies are hiring aggressively, most aren't conducting major layoffs either . Recent initial jobless claims have looked "exceptionally benign by historical standards," Bank of America economist Shruti Mishra wrote in a note.
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