WASHINGTON (AP) — America’s employers kept hiring briskly in October, adding a substantial 261,000 positions, a sign that as Election Day nears, the economy...
The October jobs figures were the last major economic report before Election Day, with voters keenly focused on the state of the economy and on their own financial lives.
A strong job market is deepening the challenges the Federal Reserve faces as it raises interest rates at the fastest pace since the 1980s to try to bring inflation down from near a 40-hear high. Steady hiring, solid pay growth and a low unemployment rate have been good for workers. But they have also contributed to rising prices.
All the jobs that employers have added since the recession ended have boosted the ability of consumers to keep spending, even amid high inflation. A labor shortage in many areas of the economy also compelled businesses to pay more to attract and keep workers. Still, despite such high-profile announcements, the pace of layoffs across the broader economy remains unusually low. And companies in travel, restaurants, manufacturing and health care are still hiring steadily. Southwest Airlines told investors last week that it was on track to hire 10,000 employees this year, including 1,200 pilots. Laboratory Corporation of America said it plans significant hiring.
Powell spoke after the Fed announced a fourth straight three-quarter-point increase in its benchmark rate. It was the latest in a series of unusually large hikes that have made mortgages and other consumer and business loans increasingly costly and heightened the risk of a recession.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
First Mover Americas: Binance Dumps FTT TokensCrypto exchange Binance plans to sell all of FTX's native token, FTT, that it owns after CoinDesk reported on the makeup of FTX's sister company Alameda Research's balance sheet. JamieCrawleyCD reports
Weiterlesen »
Stanford fumbles all throughout first half in blowout loss to Washington StateThe Cardinal lost four fumbles in a span of five possessions in the first half.
Weiterlesen »
BeaversEdge - 10 Takeaways From Oregon State's Loss To Washington
Weiterlesen »
Report: Jeff Bezos, Jay-Z Looking to Purchase Washington CommandersBillionaire Jeff Bezos is now reportedly looking into potentially buying the Washington Commanders football team.
Weiterlesen »