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expected. The numbers indicate that the Fed’s inflation-fighting initiatives have been somewhat effective, as hiring significantly fell short of prior months before the Fed’s policy went into effect.The September jobs report is acutely important, as it's a referendum on how Federal Reserve Chair Jerome Powell’s inflation-fighting efforts are working out. Powell previouslythat he needed to cool the economy to bring down record-high inflation.
With this lens in mind, the data from the September jobs report is a mixed bag. Job growth was solid, but was lower than expected. The numbers indicate that the Fed’s inflation-fighting initiatives have been somewhat effective, as hiring significantly fell short of prior months before the Fed’s policy went into effect.increased 263,000
for the month, falling short of the projected 275,000. Despite the Fed’s efforts to dampen the economy, the labor market remained strong in September, showing signs of resiliency. Powell still has to contend with a strong job market with continued hiring, which galvanizes inflation. Showing the dichotomy, the unemployment rate fell to 3.5%, representing a 50-year low. Additionally, average hourly earnings rose firmly.
Employment in professional and business services continued its upward trajectory, adding 46,000 jobs.
The Fed doing everything thing it can to preserve the leverage corporate America has had over wages, screwing over workers trying to get wage increases they should have gotten over course of decades along with the increase in productivity they have provided to their employers.
Fed is solving the labor shortage and supply disruptions with demand cutting investment destroying methods. Mismatch
There is nothing about positive job growth that indicates rate hikes are effective. You would know interest rate hikes are being effective when the job growth goes negative and employers can't afford to hire more.