October Jobless Rate Probably Rose

Consensus forecast calls for 125,000 increase in payrolls in Friday’s October employment report.

The jobless rate probably rose in October as U.S. employers kept a tight rein on payrolls with the nation closing in on the so-called fiscal cliff, economists said before a report this week.

A net 125,000 workers were added to headcounts following an increase of 114,000 in September, according to the median forecast of 72 economists surveyed by Bloomberg before the Nov. 2 Labor Department figures. The unemployment rate climbed to 7.9 percent last month from a three-year low of 7.8 percent, the survey showed.

Confidence Improving

The Conference Board’s consumer sentiment index may have risen to 73, the highest level in four years, economists also project ahead of Oct. 30 figures.

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