The economy added 150,00 jobs in October, suggesting a mild slowdown following September’s outsized gain, the Labor Department reported on Friday.
Nonfarm payrolls comes in a bit light, downward revisions to previous 2 months and wage growth on the low end.
On the margin it feels like it has softened up, but it's still a mighty hot job market,” says Steve Preston, CEO of Goodwill Industries.
The Federal Reserve has been looking to the labor market for signs it has reached a better balance between supply and demand than a year ago.
Chairman Jerome Powell noted that the labor market has remained strong even as interest rates have risen at a sharp pace over the past year.
Persons:
”, Noah Yosif, Nonfarm payrolls, ” Kathy Jones, it's, Steve Preston, ” Preston, Geno Cutolo, Scott Hamilton, ” Hamilton, Jerome Powell, “ We've
Organizations:
Labor Department, UKG, ”, Schwab Center, Financial Research, Goodwill Industries, Federal Reserve, Labor
Locations:
North America