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U.S. labor market shrugs off recession fears; keeps Fed on tightening path

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U.S. employers hired more workers than expected in November and increased wages, shrugging off mounting worries of a recession, but that will probably not stop the Federal Reserve from slowing the pace of its interest rate hikes starting this month.

Economists say these companies are right-sizing after over-hiring during the COVID-19 pandemic, noting that small firms remain desperate for workers.

There were 45,000 jobs added in healthcare, while government payrolls increased 42,000. Construction employment increased by 20,000 jobs despite the housing market turmoil, while manufacturing added 14,000 jobs. Policymakers meet on Dec. 13 and 14. Attention now shifts to November's consumer price data due on Dec. 13.

Strong wage gains are helping to drive consumer spending, which surged in October, leading economists to believe that an anticipated recession next year would be short and shallow. But there are some signs of weakness emerging in the labor market.

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If only the Biden Administration goes into hibernation…Fed needs to stop interfering and let the smooth itself out

Bull shitt

Yeah, we’re doomed.

Don’t give false hope, we all know what’s coming.

Did they consider in all the massive layoffs Nooooooo. Sit down please 🪑

oh?

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