U.S. job growth likely rebounded in October, with wages expected to have recorded their largest annual gain in 9-1/2 years, pointing to further labor market tightening that could encourage the Federal Reserve to raise interest rates again in December.
The Labor Department’s closely watched monthly employment report on Friday is also expected to show the unemployment rate steady at a 49-year low of 3.7 percent. Sustained labor market strength could ease fears about the economy’s health following weak housing data and stalling business spending.
Nonfarm payrolls probably increased by 190,000 jobs last month, according to a Reuters survey of economists.
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