September Payrolls Shouldn't Interfere with Fed's Inflation Focus
Dow Jones
Sep 29
1220 ET - Analysts project that September's slowdown in payroll growth shouldn't interfere with the Fed's plan to remain focused on inflation. Upcoming revisions to the central bank's preferred measure, PCE will come this Wednesday. "The revisions shouldn't impact the near-term policy path, since the Fed was likely already accounting for them," says an analysis from BofA. Economists polled by The Wall Street Journal expect 83,000 jobs added in September. A note from Oxford Economics projects payroll growth to increase by a lower 50,000, with the biggest swing occurring in leisure and hospitality, suggesting the last report's increase was due to seasonal noise.
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