JOBLESS RATE EXPECTED TO HOLD
TALK RADIO NEWS SERVICE
WASHINGTON - Economists interviewed by CNBC say they believe the nation’s unemployment rate will remain at 7.8 percent when the October jobless report is released on Friday.
The report, which is produced by the U.S. Labor Department, is expected to reveal that the country’s economy added 125,000 net jobs in October. The report is based on surveys the Labor Department conducts with businesses throughout the month.
Friday’s report should have some impact on the presidential race given that it’s the last one that will come out before voters head to the polls on Tuesday.
CNBC also reported that ADP, a private payroll data firm that also releases monthly unemployment reports, is forecasting smaller job gains than the federal government. ADP’s estimate is reportedly due to a new methodology the firm is now using to calculate the numbers.
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