Something is very WRONG in the media …..
LESS people where hired….
The Jobless rate went UP.…
And they are saying things are GOOD?
And the Fed keeps RAISING interst rates?
These numbers come from the Biden Labor Dept. and they are NOT good no matter how u dress this up…….
But the Midterm election is a few days away….
Oh, and gas prices KEEP rising…
Wanna Bet they drop right after the election when the Republican’s are in line to get a House Majority?
Employers added 261,000 jobs last month on a seasonally adjusted basis, the Labor Department said Friday. That was down from 315,000 in September. The unemployment rate rose to 3.7 percent.
“All in all, the job market is still hot,” said Daniel Zhao, an economist at the career site Glassdoor. “There’s still some cushion before we actually hit the ground.”
Economists had expected a gain of 200,000 jobs.
The report offered a final glimpse of the economy before the midterm elections next week, and it will almost certainly make its way into both parties’ closing pitches to voters.
Officials at the Federal Reserve have also been closely watching the labor market to assess whether their aggressive efforts to rein in inflation by raising interest rates are working. They have been eager to see evidence that the labor market is softening and wage growth is subsiding, but not so much that the economy tumbles into a recession.
On Wednesday, the Fed raised interest rates another three-quarters of a percentage point on and signaled plans to keep raising them even as it suggested that it might slow the pace of increases. Their next rate decision is scheduled for Dec. 14….
Of course this report won’t have the Twitter numbers in it, eh?
Elon Musk began laying off Twitter employees on Friday, culling the social media service’s 7,500-person work force a little over a week after completing his blockbuster buyout.
Twitter employees were notified in a companywide email that the layoffs were set to begin, according to a copy of the message seen by The New York Times. Workers were instructed to go home and not go to the offices on Friday as the cuts proceeded. The message, which came from a generic address and was signed “Twitter,” did not detail the total number of layoffs…