Yahoo Finance | Labor market is 'strong,' not 'too hot': Economist @YahooFinance | Uploaded October 2024 | Updated October 2024, 1 week ago.
The US economy added 254,000 new jobs in the month of September, topping economist expectations of 150,000 additions. Economic Policy Institute senior economist Elise Gould joins Morning Brief to share her insights on this latest labor market data. Gould emphasizes that this report reinforces the strength of the labor market, stating, "It was strong before, and this is another strong report." She highlights the positive indicators: a decrease in the unemployment rate and upward revisions adding 72,000 jobs to previous months' figures. These factors paint a picture of a "quite strong" labor market. Addressing concerns about wage growth, Gould emphasizes that "it's not a problem at all," when it comes to inflation and the Federal Reserve's monetary policy. "I think it just confirms that we're in a pretty strong labor market. I don't think it's too hot," Gould tells Yahoo Finance. Read more: Jobs, inflation, and the Fed: How they're all related
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