Nonfarm payrolls increased 261,000 last month, the U.S. Labor Department’s closely watched employment report showed on Friday
U.S. employers hired more workers than expected in October, but a rise in the unemployment rate to 3.7 per cent suggested some loosening in labour market conditions, which would allow the Federal Reserve to shift towards smaller interest rates increases starting in December.
Economists polled by Reuters had forecast 200,000 jobs, with estimates ranging from 120,000 to 300,000. Wages increased 4.7 per cent year-on-year in October after advancing 5.0 per cent in September as last year’s large increases dropped out of the calculation. Other wage measures have also come off the boil, which bodes well for inflation.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
October bridge crossings up 257% from October 2021Numbers were up for most vehicle classifications though the number of commercial trucks crossing one way was down
Read more »
Ottawa jobless rate rises slightly to 4.2 per cent in OctoberThe overall employment picture improved slightly in the capital in October, according to Statistics Canada.
Read more »
Canadian economy posts a positive surprise, adds 108,000 jobs in OctoberThe Canadian economy added 108,000 jobs in October, reversing much of the losses observed in recent months.
Read more »
'Exciting futures': Alberta's unemployment rate drops to 5.2 per cent in OctoberAlberta's unemployment rate dipped slightly last month as residents battled inflation and the rising cost of living.
Read more »
Canadian economy adds 108,000 jobs in October, unemployment holds steadyThe Canadian economy added 108,000 jobs in October, reversing much of the losses observed in recent months.
Read more »