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Job market shows signs of slowing: Will rate cuts begin earlier?
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💡This week, we received updates on the job market that showed a marginal slowdown. Friday, we learned the unemployment rate for October ros もっと見る
💡This week, we received updates on the job market that showed a marginal slowdown.

Friday, we learned the unemployment rate for October rose 0.1% to 3.9%. Non-farm payrolls also came in Friday, showing the workforce added just 150k workers compared to estimates of 180k. Wage data showed a slower increase than projected, at 0.2% compared to 0.3%.

Thursday, the Department of Labor estimated there were 217k newly unemployed workers in the U.S., otherwise known as initial jobless claims. The amount was slightly above the forecast 210k and last week's 212k.

ADP Nonfarm employment came in lower than expected earlier in the week, at 153k vs 150k expected. JOLTs job openings came out 250k higher than expected, at 9.5M.

As Fed Chair Jerome Powell said after the Wednesday FOMC meeting, unemployment has stayed remarkably low at 3.8% even during the highest interest rates in 22 years. The Fed decided to keep rates unchanged, judging job data to mean the market may have shown signs of slowing.

Rates might not be dropping anytime soon, as October GDP figures showed a dramatic 4.9% growth rate so far in the third quarter while the PCE price index showed about a 3.4% inflation rate.

Tell your story: How has the strong labor market effected your trading?

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