In September, U.S. employers and their HR teams seemed to have been aggressively seeking talent, ending up far exceeding analysts' expectations for new hires by an impressive 43%.
Job growth in the U.S. reached its highest level in six months in September, with the unemployment rate falling to 4.1%. This suggests the economy remains strong, likely reducing the need for the Federal Reserve to implement further large interest rate cuts this year. In the meantime, traders are awaiting other key reports, including the consumer price index , which remains a priority for the Fed as it aims to balance its dual mandate of maximizing employment and keeping inflation at a 2% annual rate.
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