While the closely watched October jobs report was strong by historical standards, it suggests a series of rate hikes by the Federal Reserve meant to cool the economy has, as yet, had only a limited impact on employers’ desire to hire more workers. The report shows employers added 261,000 jobs in October and the unemployment rate rose to 3.7% from 3.5% in September.
Several economists said Friday they think the Fed could slow the pace of rate hikes to a half-percentage point, rather than the three-quarters of a point increases it has been approving at recent meetings. “The bottom line here is that the labor market is softening, but has not yet reached the point where the data are screaming at the Fed to stop tightening,” said Ian Shepherdson, chief economist for Pantheon Macroeconomics.
😂😂😂
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TikTok makes clear European data can be accessed by China-based employees | CNN BusinessTikTok updated its privacy policies for European users on Tuesday, adding explicit disclosures that personal data from the app may be viewed by employees in China. Dikdok as spyware... hthjones O no that’s a surprise said no one
Source: cnni - 🏆 326. / 59 Read more »
What rising interest rates mean for you | CNN BusinessThe Federal Reserve raised its benchmark interest rate for the sixth time in a row on Wednesday, to a range of 3.75% to 4%. ChristineRomans explains what this means for the average American ChristineRomans Biden’s Economy MAGA didn’t praise Antifa BLM Riots. DEMOCRATS did. Biden said All Democrats that deny election results are “enemies of democracy”. 2016 all Democrats denied election results. Democrats are Enemies to Democracy. ChristineRomans So now it's OK to call white women ' cockroaches' ? What a horrible racist statement! firesunnyhostin
Source: CNN - 🏆 4. / 95 Read more »
Lyft to lay off 13% of staff | CNN BusinessLyft on Thursday said it will lay off 13% of its staff, or nearly 700 employees, as it rethinks staffing amid rising inflation and fears of a looming recession. Offering them a ride home?
Source: CNN - 🏆 4. / 95 Read more »
CNBC axes Shepard Smith's news program amid broader 'strategic realignment' | CNN BusinessShepard Smith will exit CNBC later this year after the business-focused news network announced on Thursday that it will cancel his show as it undergoes a 'strategic realignment' under new leadership. I’m really sorry about this. Of course it failed. People don't want to leave their echo chambers and hear reality. Bring back Chris Cuomo
Source: CNN - 🏆 4. / 95 Read more »
Glencore fined $314 million for 'endemic' bribery of African oil officials | CNN BusinessBribes paid to state-owned oil companies and government ministries across Nigeria, Equatorial Guinea and the Ivory Coast were often concealed as an unspecified “service fee.” Shame on British Justice system! People end up in jail for stealing from a corner store; but stealing from millions in former colonies is just “fines” and no “jail”. 💭
Source: cnni - 🏆 326. / 59 Read more »