Workers pour concrete to create part of a bus stop in the Manhattan borough of New York City on Thursday, October 12, 2023. On Friday, the U.S. government issues the October jobs report. – America's employers likely kept hiring at a healthy pace last month, defying high interest rates, rising pressure on consumers and labor strikes that idled big swaths of the nation's auto industry.
since March 2022 to try to slow the economy, cool hiring and tame inflation, which hit a four-decade high last year. “It’s still a very strong labor market,’’ said Nancy Vanden Houten, lead U.S. economist at Oxford Economics. “The Federal Reserve would like to see something a little less strong ... We’re moving in that direction.’’
In the meantime, despite long-standing predictions by economists that the Fed's ever-higher interest rates would trigger a recession, the U.S. economy, the world’s largest, remains sturdy. From July through September, the nation's gross domestic product — the output of all goods and services —And companies have remained eager to hire, though below the sizzling pace of earlier this year. In 2023, the economy has added a robust average of 260,000 jobs a month through September.
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.
Source: Reuters - 🏆 2. / 97 Read more »
Source: WOKVNews - 🏆 247. / 63 Read more »