BREAKING: October jobs report solid making Fed's inflation fight harder
FILE - A help wanted sign is displayed in Deerfield, Ill. The U.S. government will issue the October jobs report on Friday morning.Hourly pay remained brisk rising at 4.7% year over year, matching September.
"The October employment report is more of a mixed bag than we’ve seen recently, consistent with an economy absorbing this year’s interest rate increases, a strong dollar, high inflation, and challenges confronting the global economy," Bankrate senior economic analyst Mark Hamrick said.At Wednesday's Fed meeting,said that in order to tame inflation, the central bank would likely have to raise rates high enough to weaken the job market.
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