SMD is forecasting an Above Bloomberg Consensus(90K) Net New Jobs of 140,000 in Friday's BLS NFP
SmartMarketData, LLC is forecasting an above Bloomberg consensus (90,000) forecast of 140,000 net new NFP (non-farm payroll) jobs for October, 2019. We forecast the unemployment rate at 3.6%. We forecast average hourly earnings to tic up 0.3%.
Our proprietary forecast methodology uses the LinkUp Jobs Data of real time job posts for almost 50,000 companies as a core input. This alternative data set of company job posts are a company management team's best expectation for their company's future employment, and therefore their company's expected growth. When rolled up to a macro level, we believe this gives a near real-time look at job growth for the entire US economy.