CDS Crypto News Breaking: US Job Report Fuels Market Sentiment with Modest Payroll Growth
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Breaking: US Job Report Fuels Market Sentiment with Modest Payroll Growth

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Breaking: US Job Report Fuels Market Sentiment with Modest Payroll Growth

Breaking: US Job Report Fuels Market Sentiment with Modest Payroll Growth

In October, the latest US job data from the Labor Department revealed a modest increase in non-farm payrolls, rising by only 12,000 jobs, significantly lower than the 110,000 expected by market analysts and well below the revised figure of 223,000 recorded in September. Despite this slowdown, the unemployment rate held steady at 4.1%, matching Wall Street’s forecasts.

Average hourly earnings rose by 0.37% for the month, contributing to a 3.99% year-over-year increase, underscoring resilience in wage growth despite the smaller-than-expected payroll gain.

The softer non-farm payroll figures have sparked optimism among investors, who anticipate that the Federal Reserve may hold back on cutting interest rates this month. Generally, such tempered job growth, coupled with stable unemployment rates, can signal to the Fed that the economy is cooling at a sustainable pace. This expectation aligns with potential Fed rate cuts as early as November, possibly followed by an additional cut in the months ahead.

Breaking: US Job Report Fuels Market Sentiment with Modest Payroll Growth

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