Reported 25 days ago
The U.S. economy added only 12,000 jobs in October, falling short of expectations due to factors like Hurricanes Helene and Milton and Boeing's labor strike. Despite steady unemployment at 4.1% and average wage growth of 4.0%, economists believe the Federal Reserve will move forward with a 25-basis-point rate cut on November 7. RSM chief economist Joe Brusuelas suggests the current jobs data is distorted, but the underlying strength of the U.S. economy may lead the Fed to pause on further rate cuts in December.
Source: YAHOO