Citi: October non-farm data will slow down significantly, and market attention will not return to the recession

BlockBeats news, November 1, the Federal Reserve has not yet declared victory in the fight against inflation, but policymakers have shifted some of their attention to the largest part of their dual mission, employment. "The October non-farm data will be an important confirmation or negation of the stronger September data, but it may not be enough to shift market attention back to the risk of a US recession," said Veronica Clark, an economist at Citi, in a recent report. However, the October data will reflect the impact of the ongoing Boeing strike and hurricanes. Clark estimates that these factors will reduce employment by 70,000 to 80,000. Citi's view on non-farm payrolls is milder than generally expected, with an expected increase of 90,000 and a slight increase in the unemployment rate to 4.23%. In addition, Citi said that any downward revision to the September data may be more important than usual. (Jinshi)