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Economy: employment stays red hot

bad news for the Fed as their efforts to cool down the economy by raising interest rates is still not working. Expect rates to keep going up.

Jobs report: U.S. payrolls grew by 261,000 in October, unemployment rate rises to 3.7%

2 comments

2 Comments

troystory

Nov 04, 2022

I didn't read this article, but I understand productivity(per employee) is down so more employees are needed to take up the slack. More part-timers and working from home. But if the job rate and consumer spending stay strong we'll have a better chance weathering the current recession. Always looking for silver-lining.

BigBallss

Nov 04, 2022

Replying to

well, all i know is the FED is hell bent on slowing down the economy and raising the unemploynment rate to curb inflation and its not working. Mortgage rates are already at almost 8%, double digits no longer seems crazy. and thats crazy. I hear auto loan rates are at 7% now, I havent confirmed that but it sounds like it could be true. The economy needs to slow down to stop inflation. Its counterintuitive but more people out of work is what the FED ia aiming for.