{
  "id": 18448023,
  "title": "US job growth expected to pick up in October, with moderation in wage gains",
  "url": "https://urgent.news/2026/11/06/us-job-growth-expected-to-pick-up-in-october-with-moderation-in-wage",
  "topic": "world",
  "section": "World",
  "published": "2026-11-06T05:31:00.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today-freemalays",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/11/06/us-job-growth-expected-to-pick-up-in-october-with-moderation-in-wage-gains"
  },
  "original_language": "en",
  "account": "The US nonfarm payrolls are forecasted to increase by 65,000 jobs in October, following a 29,000 gain in September, according to a Reuters survey of economists. This comes after a calendar quirk related to Labor Day holiday restricted payrolls to a 29,000 gain in September. Economists anticipate a slowdown in annual wage growth for the first time in nearly 5-1/2 years, potentially falling below 3.0% for the first time in over half a decade. The Labor Department's employment report is also expected to show an unchanged unemployment rate at 4.2% last month, possibly dropping to 4.1%.\n\nHistorically low layoffs and a recent surge in job openings suggest tightening labor market conditions. However, economists and Federal Reserve officials believe labor market tightness is not a significant inflation risk. Some economists argue that a shrinking supply of workers due to immigration crackdowns and retirements drives the relatively low unemployment rate. James Knightley, chief international economist at ING, stated that weak wage growth should help dampen medium-term price pressures as labor costs are a significant factor for corporate America.\n\nThe economy requires creating at least 40,000 jobs per month to keep pace with the growth in the working-age population. Payroll gains have trailed economic growth, with the GDP increasing at a 3.4% annualized rate in the third quarter, boosted by robust consumer spending and businesses investing heavily in artificial intelligence. Employers may have overhired following the COVID-19 pandemic and uncertainties about staffing needs due to the COVID-19 pandemic, AI integration, and geopolitical tensions. Job opportunities are scarce, making job switching and young adult employment particularly challenging. Discontent over the economy, coupled with the Middle East conflict's impact, contributed to the loss of Republican control of Congress in the 2022 midterm elections. Despite this, job security for employed workers remains high, while opportunities for the job-seeking population have become more limited. Average hourly earnings are expected to rise by 0.3% in October, while wages will rise by 2.9% year-over-year, marking the first time since May 2021 that wage growth has fallen below the 3% threshold.",
  "summary": "The unemployment rate is expected to remain unchanged at 4.2%, while annual wage growth is forecast to slow to 2.9% from 3.0% in September.",
  "key_points": [
    "US job growth forecasted to increase by 65,000 in October",
    "Wage growth expected to moderate, potentially below 3.0%",
    "Unemployment rate anticipated to remain at 4.2%"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "US job growth expected to pick up in October, with moderation in wage gains",
        "url": "https://urgent.news/2026/11/06/us-job-growth-expected-to-pick-up-in-october-with-moderation-in-wage-18450990",
        "published": "2026-11-06T05:48:39.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}