The October jobs report is out Friday. Here’s everything to expect

Economists expect US employers to have added only 59,000 jobs in October, a modest increase from September’s 29,000. The report is significant because weak hiring is occurring alongside a forecast unemployment rate of just 4.2%, suggesting a labour market with little growth but continued low unemployment.

A shrinking labour force helps explain why relatively few new jobs may be needed to keep the unemployment rate steady. ZipRecruiter labour economist Nicole Bachaud cited an ageing workforce and retirements, decades of low birth rates and a marked fall in immigration as factors reducing the number of people available to work.