US jobs growth likely to return toward this year's average pace - BBH

Research Team at BBH, suggests that barring a significant surprise, investors will most likely look through today's US employment report. 

Key Quotes

“Most look for US jobs growth to return toward this year's average pace (~178k) from overshooting it the past three months (average 192k).  However, what this means is that the market is looking for a little improvement over September's 156k. 

Internals are important.  There is some chance, largely due to rounding, some are looking for the unemployment rate to slip back to 4.9% from 5.0%.  Average hourly earnings are expected to rise by 0.3%.  If so, that would keep the year-over-year pace at 2.6%, slight ahead of the CPI.   The average work week is stable at 34.4 hours.”