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Fed's Bostic says labor market slowing but not slow, jobs gains 'robust'

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Raphael Bostic News

Unemployment Rate,Labor Market,Full Employment

Last week's jobs numbers confirm the U.S. labor market remains strong even though it may be slowing, with a 4.1% unemployment rate around what is considered ...

WASHINGTON - Last week's jobs numbers confirm the U.S. labor market remains strong even though it may be slowing, with a 4.1% unemployment rate around what is considered full employment and employers adding jobs faster than what is needed to account for population growth, Atlanta Federal Reserve President Raphael Bostic said on Tuesday.

Job growth in September instead beat expectations and prior months' numbers were revised upward, causing traders to increase bets the Fed would cut its benchmark rate by just a quarter point at its Nov. 6-7 meeting. The NFL's Tampa Bay Buccaneers and NHL's Tampa Bay Lightning have left Florida ahead of Hurricane Milton to practice the rest of the week.

 

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