NFP report may show negative payroll numbers, but overall impact on labor market may be positive.

From Investing.com: 2024-10-31 10:04:00

Jobs Day will likely be messier than usual with recent hurricanes and a strike weighing temporarily on the payroll estimates. Fed Governor Chris Waller predicts a significant but temporary loss of jobs in October due to these factors, potentially reducing employment growth by over 100,000. The upcoming jobs report may show a negative payroll estimate, but it could still reflect a solidly growing labor market. Negative prints in monthly payrolls are not uncommon, and other data will be needed to interpret the headline. The unemployment rate will also be closely watched for any signs of labor market softening.



Read more at Investing.com: NFP Preview: Who’s Afraid of a Negative Payroll Print?