๐ถ BREAKING: U.S. Economy Adds Only 12,000 Jobs in October ๐ถ
New data shows a weaker-than-expected labor market:
๐ถ Jobs Added: Only 12,000 in October, far below expectations of 106,000 ๐
๐ถ Unemployment Rate: Held steady at 4.1%, matching expectations ๐
๐ถ Lowest Growth: This marks the smallest job gain since July 2021
๐ถ Market Reaction:
Initial response: Rebound in treasury yields and a drop in stocks ๐
Current sentiment: Jobs report now seen as dovish, fueling rate cut speculation
๐ถ Whatโs Next? A 25 bps rate cut is anticipated, as signs continue pointing toward a weaker labor market ๐
Stay tuned for updates as economic policy reacts to these shifting conditions.
