Russell Investments: U.S. Jobs Data May Show Labor Market Remains Resilient

According to Jin10, Russell Investments senior investment strategist Bei Chen Lin said in a report that if U.S. job growth in October reaches 65,000, it would clearly indicate that the labor market remains resilient. The U.S. October jobs report is due Friday. The forecast is slightly above the 59,000 jobs economists expected in a Wall Street Journal survey. Lin said this would give the Federal Reserve more room to focus policy on the inflation side of its dual mandate. He noted that ongoing energy shocks have driven inflation higher, while wage growth has remained relatively moderate. Lin also said that although job growth is currently spread across more industries than in 2024, a small number of sectors still play a key role.