HomeTop U.S. NewsU.S. Job Growth Expected to Halt, Impacting Fed Decision

U.S. Job Growth Expected to Halt, Impacting Fed Decision

Government data has shown that U.S. job growth is slowing, pushing Federal Reserve policymakers to reassess their monetary policy. Payrolls in the US rose by 190,000 in October, showing that jobs are still on the rise but at a decreasing rate compared to the previous three months when the increase was substantial.

Payrolls aside, hourly earnings rose at their slowest pace in over two years, largely a result of a growing labor force. This trend has raised expectations that the Federal Reserve will hold interest rates steady on Wednesday following their two-day policy meeting.

“Wage growth is a more accurate signal of labor-market conditions,” Bloomberg Economics observed. “Both the Fed’s preferred Employment Cost Index and average hourly earnings (part of the nonfarm-payrolls report) likely decelerated in recent months. That should give the Fed cover to keep rates on an extended pause.”

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