Wanted Technologies estimates the U.S. Bureau of Labor Statistics will announce a loss of 224,000 jobs for October when it releases U.S. nonfarm payrolls on Friday. Nonfarm payrolls had fallen by 263,000 in September, according to the BLS.

Although claims for unemployment insurance have decreased, Wanted said hiring demand indicators it tracks haven't risen enough to forecast a more positive month-over-month employment report.

Wanted's forecast is based, in part, on a weekly measure of online job ads.