Features

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.

Recommended

Oil had a terrible 2020. This year will be better
Oil

Oil had a terrible 2020. This year will be better

Oil companies are struggling – both BP and Exxon have reported losses after a year in which the oil price briefly went negative. But hang on to your e…
3 Feb 2021
Oil price comes off the boil as the pandemic lingers
Oil price

Oil price comes off the boil as the pandemic lingers

Brent crude oil had its worst week since October last week, tumbling by 7%, as continued virus restrictions in Europe weigh on demand.
25 Mar 2021
Oil, bonds and tech stocks tumble – what’s going on?
Stockmarkets

Oil, bonds and tech stocks tumble – what’s going on?

The market’s delayed reaction to the Fed’s statement on interest rates led to all manner of assets selling off. John Stepek looks at what’s going on a…
19 Mar 2021
If you’re looking for an “ESG” investment, why not try oil stocks?
ESG investing

If you’re looking for an “ESG” investment, why not try oil stocks?

Investors looking to have their money do good shouldn’t sell out of miners and fossil-fuel companies, says Merryn Somerset Webb. That will just leave …
15 Mar 2021

Most Popular

China owns a lot more gold than it’s letting on – and here’s why
Gold

China owns a lot more gold than it’s letting on – and here’s why

In a world awash with money-printing, a currency backed by gold would have great credibility. And China – with designs on the yuan becoming the world’…
21 Apr 2021
“Joke” cryptocurrency dogecoin goes to the moon. What’s going on?
Bitcoin

“Joke” cryptocurrency dogecoin goes to the moon. What’s going on?

Dogecoin – a cryptocurrency created as a joke – has risen by more than 9,000% this year alone. Saloni Sardana looks at how something that began as an …
19 Apr 2021
House prices in the UK are still surging – here’s why it’ll probably continue
Property

House prices in the UK are still surging – here’s why it’ll probably continue

The latest UK house price data shows no letup in the country’s booming property market, with the biggest yearly rise since 2014. And there’s no end in…
22 Apr 2021