Focusing on Non-Farm Payrolls: What to Expect for the NFP Data Due 07 October 2022

Société Générale’s Insights

Société Générale shared a snippet on what they expect for the upcoming Non-Farm Payrolls (NFP) data due on 07 October 2022:

• We project a 280K gain.
• The unemployment rate for September is expected to decline to 3.6%.
• The monthly flows are volatile. If there are no returnees, or if there is a net exodus from the labor force rather than re-entrants, the unemployment rate could drop even more than the 3.6% we project.
• Wages are expected to rise 0.5% MoM in September. We view the shortfall seen in August as temporary.

As the NFP data is a key indicator of the health of the US labor market, these projections from Société Générale provide valuable insights for investors and analysts.

Impact on Individuals

For individuals, a positive NFP report with higher job gains and lower unemployment rates can indicate a strong economy with potential job opportunities. This could lead to increased hiring and potentially higher wages for workers.

Global Implications

The NFP data not only affects individuals in the US but also has global implications. A robust labor market in the US can drive global economic growth and impact international trade and investments. Positive NFP data may lead to increased confidence in the global markets.

Conclusion

As we anticipate the release of the NFP data on 07 October 2022, the projections from Société Générale give us a glimpse into what to expect. The NFP report has the potential to shape economic policies, influence financial markets, and impact individuals and countries worldwide. Keeping a close eye on these key indicators will be crucial for decision-makers in the financial world and beyond.