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.
Subscribe to 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
-
Coventry Building Society bids £780m for Co-operative Bank - what could it mean for customers?
Coventry Building Society has put in an offer of £780 million to buy Co-operative Bank. When will the potential deal happen and what could it mean for customers?
By Vaishali Varu Published
-
Review: Three magnificent Beachcomber resorts in Mauritius
MoneyWeek Travel Ruth Emery explores the Indian Ocean island from Beachcomber resorts Shandrani, Trou aux Biches and Paradis
By Ruth Emery Published