US unemployment dropped to 4.1% in October (from 4.2%), still way below the 5.7% historical average. 165k jobs added — crushing the 60k consensus. Plus August/September numbers revised up by 84k.
This isn't a weak labor market. It's a resilient one.
And that's exactly why the Fed will hike again in December. Strong jobs = persistent wage pressure = sticky inflation = higher rates for longer.
Markets keep hoping for a pivot. The data keeps saying: not yet.
This isn't a weak labor market. It's a resilient one.
And that's exactly why the Fed will hike again in December. Strong jobs = persistent wage pressure = sticky inflation = higher rates for longer.
Markets keep hoping for a pivot. The data keeps saying: not yet.