The government’s October jobs report is expected to show Friday that companies and government agencies added 184,000 jobs, a solid showing, though down sharply from a blockbuster 336,000 gain in September.
The Fed scrutinizes the monthly job data to assess whether employers are still hiring and raising pay aggressively as a result of labor shortages.
The Fed's policymakers are trying to calibrate their key interest rate to simultaneously cool inflation, support job growth and ward off a recession.
At the same time, inflationary pressures have been easing as the Fed has sharply raised borrowing costs.
In the meantime, despite long-standing predictions by economists that the Fed's ever-higher interest rates would trigger a recession, the U.S. economy, the world’s largest, remains sturdy.
Persons:
’ ’, Nancy Vanden Houten, ’ Vanden Houten, Vanden Houten, Jerome Powell
Organizations:
WASHINGTON, —, Federal Reserve, Oxford Economics, Federal, United Auto Workers, Detroit, Wage, Labor Department
Locations:
U.S, COVID