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US Hiring Surges, Bolstering Case for Another Fed Rate Hike - Bloomberg
https://www.bloomberg.com/news/articles/2023-10-06/us-hiring-surges-bolstering-case-for-another-fed-rate-hike
US employment unexpectedly surged in September by the most since the start of the year, illustrating a durable labor market and bolstering the case for another Federal Reserve interest-rate hike.
Nonfarm payrolls increased 336,000 last month, **twice as much** as the 170K expected, combined with **sizable upward revisions to the prior two months**, a Bureau of Labor Statistics report showed Friday.
**The unemployment rate remained unchanged at 3.8%**.
**Expect another rate hike in november.** Powell will also point to the JOLTS report of last Tuesday which also came in stronger then expected giving the Fed hawks ammunition to hike.
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#business
https://www.bloomberg.com/news/articles/2023-10-06/us-hiring-surges-bolstering-case-for-another-fed-rate-hike
US employment unexpectedly surged in September by the most since the start of the year, illustrating a durable labor market and bolstering the case for another Federal Reserve interest-rate hike.
Nonfarm payrolls increased 336,000 last month, **twice as much** as the 170K expected, combined with **sizable upward revisions to the prior two months**, a Bureau of Labor Statistics report showed Friday.
**The unemployment rate remained unchanged at 3.8%**.
**Expect another rate hike in november.** Powell will also point to the JOLTS report of last Tuesday which also came in stronger then expected giving the Fed hawks ammunition to hike.
​
#business
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