U.S. labor market shrugs off recession fears; keeps Fed on tightening path

  • 📰 Reuters
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 97%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

U.S. employers hired more workers than expected in November and increased wages, shrugging off mounting worries of a recession, but that will probably not stop the Federal Reserve from slowing the pace of its interest rate hikes starting this month.

Economists say these companies are right-sizing after over-hiring during the COVID-19 pandemic, noting that small firms remain desperate for workers.

There were 45,000 jobs added in healthcare, while government payrolls increased 42,000. Construction employment increased by 20,000 jobs despite the housing market turmoil, while manufacturing added 14,000 jobs. Policymakers meet on Dec. 13 and 14. Attention now shifts to November's consumer price data due on Dec. 13.

Strong wage gains are helping to drive consumer spending, which surged in October, leading economists to believe that an anticipated recession next year would be short and shallow. But there are some signs of weakness emerging in the labor market.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

If only the Biden Administration goes into hibernation…Fed needs to stop interfering and let the smooth itself out

Bull shitt

Yeah, we’re doomed.

Don’t give false hope, we all know what’s coming.

Did they consider in all the massive layoffs Nooooooo. Sit down please 🪑

oh?

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Federal Reserve chair signals slowdown in rate hikes, stocks rally on Wall StreetWall Street closed out a solid November with a broad market rally Wednesday after the head of the Federal Reserve said the central bank could soon begin easing up on its aggressive interest rate increases aimed at taming inflation.
Source: DenverChannel - 🏆 239. / 63 Read more »