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Weekly Economic Monitor – The October Employment Report

By Scott J. Brown, Ph.D., Raymond James

The October Employment Report – Recent data reports have been consistent with a further rebound in economic activity, but we still have a long way to get back to where we were before the pandemic and the pace of improvement has moderated. While attention has been focused on the election and the implications for fiscal policy, the daily number of COVID-19 cases has surged. There is a tradeoff between economic growth and fighting the virus.

This Week – The bond market will be closed for the Veterans Day holiday on Wednesday. The Consumer Price Index is likely to rise moderately in October. Pandemic-related pipeline pressures are expected to be offset by more moderate shelter cost increases. Inflation in used vehicles could also ease back, following strong gains over the three previous months.

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