US: Non-Farm Payrolls seen increasing by 125k in September - Nomura

The Nomura Research Team offer a sneak peek into Friday’s US Non-Farm Payrolls release due at 1230 GMT.

Key Quotes:

“125k increase, likely driven by another weak month of service employment growth.

Average hourly earnings +0.3% m/m & 3.2% y/y, boosted in part by a positive calendar bias.

Unemployment rate to 3.6% as the prime age (25-54) labour force participation rate pulls back somewhat after a surge in August.”