Money Minute Friday 4 October: counting jobs and oil rigs
In today's Money Minute, we get the all-important US employment figures for last month, plus the "Baker Hughes oil rig count".
In the US this afternoon, we get the all-important employment figures for last month.The two most important figures are the number of new employees hired, and the rate of wage inflation.
Markets currently expect around 140,000 staff to have been added to payrolls, while wage growth is expected to come in at an annual rate of 3.2%, the same as in August.If the figures beat market expectations, that will make it harder for the Federal Reserve to justify cutting interest rates further. If they miss, it will make it easier.However, given current elevated fears of recession, markets may well be happier with a forecast-beating result.
Also out later in the US is the weekly Baker Hughes oil rig count.This shows how many oil and gas drilling rigs are being used across the US and Canada. This gives an overview of activity in the oil and gas sector.The number of rigs in use has fallen in each of the last five weeks, and is at its lowest since April 2017.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
London Stock Exchange gets go-ahead to run Pisces private stock market
The Pisces market will allow investors to buy and sell shares in private companies. But how will it work, when will it launch, and who is allowed to use it?
-
Could landlords face National Insurance on rental income?
The Treasury is said to be considering a tax increase for landlords in an attempt to boost revenue in Rachel Reeves’s Autumn Budget