JUST IN: The U.S. added 261,000 jobs in October, exceeding economist expectations and sending a positive signal for the economy days before the midterm elections.
, intensifying the central bank's fight against inflation and stoking fears of a downturn.
The aggressive move is the latest in a string of borrowing cost increases imposed by the Fed in recent months as it tries to slash price increases by cooling the economy and choking off demand. The approach, however, risks tipping the U.S. into a recession and putting millions out of work. While hiring has slowed from a breakneck pace earlier in the year, the labor market continues to defy recession concerns.number of job openings increased in September
, a sign that the need for workers remains robust, government data released Tuesday showed. However, hiring and people quitting fell slightly in September, suggesting that the demand for labor from employers has begun to ebb. While strong, the hiring in October falls well below the typical jobs added over a given month in 2022. Monthly job growth has averaged 407,000 thus far in 2022 versus 562,000 per month in 2021, the jobs data on Friday showed.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Risque d’incendie: Hyundai rappelle des Santa Fe Sport 2018 | Actualités automobile | Auto123Hyundai doit rappeler près de 45 000 unités du Santa Fe Sport 2018 en raison d’un risque d’incendie.
Read more »
US hiring exceeds expectations, as economy adds 261,000 jobsU.S. hiring exceeds expectations as economy adds 261,000 jobs
Read more »
U.S. economy added 261,000 jobs in October, better than expected as hiring remains strongJUST IN: U.S. economy added 261,000 jobs in October, despite Federal Reserve interest rate increases.
Read more »
US employers keep hiring at solid pace, adding 261K jobs in OctoberAmerica's employers kept hiring briskly in October, adding a substantial 261,000 positions, a sign that as Election Day nears, the economy remains a picture of solid job growth and painful inflation.
Read more »
US employers keep hiring briskly, even in the face of interest rate hikesAmerica’s employers kept hiring vigorously in October, adding 261,000 positions, a sign that as Election Day nears, the economy remains a picture of solid job growth and painful inflation.
Read more »