Sinclair teamed up with Salvation Army to provide critical relief to communities picking up the pieces left behind by Hurricane Helene.The U.S. labor market blew past expectations in September as the pace of hiring accelerated and unemployment moved downward, which came at the same time the Federal Reserve lowered its benchmark interest rate to help bolster the economy with inflation returning to normal levels.
Some economists thought this month’s jobs report will receive greater emphasis from the Fed before their meeting in early November, where governors will make another decision on interest rates. Another jobs report will be released in October but the data is likely to be skewed by Hurricane Helene’s destruction across the South and a labor strike at Boeing, making it harder for the central bank to make big takeaways from the employment situation overall.
Hourly earnings for workers also improved last month, helping bolster purchasing power as prices still remain significantly higher than they were pre-pandemic despite moderating levels of inflation. Average hourly wages grew 4% compared to last year and 0.4% from August, which also beat economists’ expectations.
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