October jobs report to arrive days ahead of Election Day, Fed's rate cut decision

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Banrion Capital Management CEO Shana Sissel and Bullseye American Ingenuity Fund portfolio manager Adam Johnson on Meta and Alphabet earnings, and how a divided government could impact stocks.

The Labor Department is scheduled to release its jobs report for October on Friday, which will be the last major economic data release ahead of Election Day and the Federal Reserve's policy meeting next week.

American voters and Fed policymakers will have the opportunity to analyze the state of play in the labor market and factor that into their respective decisions next week. Voters will determine whether control of government will be divided between, or unified under Democrats or Republicans – while central bank policymakers will determine whether to lower interest rates again and by how much.

The U.S. economy is projected to have added 115,000 jobs in October, according to an LSEG poll of economists. That would be a much slower pace of job growth than September, when 254,000 jobs were added well above the LSEG forecast of 140,000 jobs.

October's jobs report will be influenced in part by several factors that could show slower job growth than anticipated – including the recent hurricanes that struck the Southeastern U.S. as well as labor disputes.

US ECONOMY GREW 2.8% IN THE THIRD QUARTER, SLOWER THAN EXPECTED

Voters and central bank policymakers will get a look at the status of the labor market ahead of a busy political and economic week when the October jobs report is released Friday. (Joe Raedle/Getty Images / Getty Images)

Nancy Vanden Houten, lead U.S. economist at Oxford Economics, explained that her firm expects the ongoing Boeing strike plus a smaller, recently resolved strike and auto sector layoffs will result in a