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In addition to the better-than expected increase in nonfarm payrolls reported by the Labor Department on Friday, wages rose at a solid pace last month. Nonfarm payrolls increased by 254,000 jobs last month, the most since March, the Labor Department’s Bureau of Labor Statistics said. presidential election. from around 28.5%
Todays payroll report reinforces the case for a Fed cut in December, but without inciting any meaningful worries about the labor market, said Seema Shah, chief global strategist at Principal Asset Management. Economists polled by Reuters had forecast payrolls would gain 200,000 jobs following a previously reported rise of 12,000 in October.
” Nonfarm payrolls increased by 228,000 jobs last month after a downwardly revised 117,000 rise in February, the Labor Department’s Bureau of Labor Statistics (BLS) said. Economists polled by Reuters had forecast payrolls advancing by 135,000 jobs after a previously reported 151,000 rise in February. from 56.0% in February.
central bank’s cautious stance toward further monetary policy easing this year amid mounting fears that pledges by President-elect Donald Trump to impose or massively raise tariffs on imports and deport millions of undocumented immigrants could stoke inflation. Professional and business services payrolls rose by 28,000.
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