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What the Street wants to learn from the jobs report

VIDEO6:0006:00
Jobs shocker coming?

In a market grasping for clues on the interest rate picture, a very real piece of information is expected Friday — the nonfarm payrolls report.

"The jobs number on Friday will be the data point that's probably going to decide where rates close the week," said Brandon Swensen, co-head of the fixed income desk at RBC Global Asset Management.

The September data is scheduled for release at 8:30 a.m. ET on Friday. Economists polled by Reuters forecast the data to show addition of 175,000 jobs, up from the less-than-expected 151,000 in August. The consensus also expects average hourly earnings to rise 0.2 percent for the month after a 0.1 percent rise the prior month, and the unemployment rate unchanged at 4.9 percent.