Surprisingly strong hiring in September has taken pressure off the Federal Reserve by reducing worries over the US labor market, giving policymakers room to continue cutting interest rates at a more gradual pace in coming months.
jobs
Fed Keeps Interest Rates Unchanged; Signals No More Increases Likely This Year
The Federal Reserve expressed increasing concern about slowing economic growth as it left interest rates unchanged on Wednesday and showed little appetite for raising them in the near future.
Nymex Crude Oil Prices Forecast Above $45 Level, Target $49 — $52 – Neal Bhai Reports
Gold Silver Reports (GSR) – The Energy Information Administration said domestic oil inventories rose by 7,000 barrels last week, defying analyst projections for the decline that usually accompanies growing winter fuel demand. Gasoline supplies surged by 6.9 million barrels and stockpiles at a key storage hub in Oklahoma also grew.
What Economists Are Saying Before the November U.S. Jobs Report
“Strong growth earlier this year should ensure the economy creates jobs at a robust pace into year-end,” economists wrote in a note. “The composition of job gains will provide clues on which sectors will drive hiring in 2019. As the Fed continues to tighten policy, the housing and auto sectors will likely get hit by rising interest rates.”
Powell Says U.S. Labor Market ‘Very Strong’ by Many Measures
Gold Silver Reports (GSR) — “Our economy is currently performing very well overall, with strong job creation and gradually rising wages,’’ Powell said in the text of a speech to be delivered to a housing conference in Washington on Thursday. “In fact, by many national-level measures, our labor market is very strong.’’
Job Growth Slumps in September, But the Unemployment Rate Hits the Lowest Level Since 1969
Job creation for September fell to its lowest level in a year though the unemployment rate dropped to a point not seen in nearly 50 years, according to Labor Department figures released Friday.