September’s US jobs report unveiled a decline in unemployment with the addition of 254,000 payrolls.
The report sparks discussion about the Fed’s potential decision on the interest rate cut.
Experts say that the Fed may consider a smaller rate cut of 25 bps instead of the larger 50 bps.
In a report from the Wall Street Journal, Chief Economist Correspondent Nick Timiraos suggested that the September jobs report could heavily influence the Federal Reserve’s decision on interest rates. He believes the Fed is now less likely to cut interest rates by 50 basis points (bps) next month, due to the stronger-than-expected jobs report.
Data from the Bureau of Labor Statistics revealed 254,000 new jobs added in September. The report showed a stronger US jobs market with an unexpected drop in the unemployment rate. Additionally, US wage growth accelerated to 4% annually, up from 3.9% in August, indicating increased inflation pressures. Monthly wages also rose by 0.4%, matching August’s rate.
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The strong labor market data has prompted discussions among industry experts. Last month, the Fed…
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