According to a report by the Financial Times , the United States unemployment rate increased by 3.8% in August.
This latest development has led to rumors that the Federal Reserve will likely back off from future interest rate hikes as the issue will be discussed at the Fed’s meeting slated for November.
Some investors believe that inflation could still be tamed without creating the conditions for a recession to occur.
Per data from the Bureau of Labor Statistics, the US economy witnessed an increase in 187,000 in new non-agricultural jobs in August. This represents the third straight month of job increases below 200,000.In a similar vein, the Department data illustrated that job openings plummeted in July to the lowest level in over two years. In July, there were 8.8 million job vacancies, which was a decrease from the 9.2 million job vacancy figure in June, per the Openings and Labor Turnover Survey […]
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