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
Sign up for MoneyWeek's newsletters
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.
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%
Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the US
Medium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.