U.S. average hourly earnings to rebound sharply

The remaining portions of the U.S. BLS establishment survey are expected to be quite positive. 

"Previously discussed calendar effects associated with the comparatively late termination of this month's canvassing period - it ended on October 17 - suggest that average hourly earnings probably climbed by 0.4% to $25.18, erasing a one-cent dip in the prior month. The labor market condition of United States is likely to boost the annual growth of private hourly earnings to 2.9% by the end of 2016", estimates Societe Generale. 

The timing of the establishment survey probably extended the mean work span of all private employees by six minutes to 34.6 hours in October. While changes in the average workweek usually receive little attention from market participants, the lengthening projected above would be the functional equivalent of adding almost 350,000 workers from a labor-input perspective.