U.S. Job Growth Slows in October, Providing Hope for a 'Soft Landing' on Inflation
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U.S. job growth slowed in October, with 150,000 jobs added vs expected 180,000. Prior months' gains were also revised down.
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Unemployment ticked up to 3.9% in October, indicating cooling in the labor market.
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Wage growth has also slowed, fueling hopes of a "soft landing" where the Fed brings down inflation without causing a recession.
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Other positive signs include 3Q GDP growth accelerating and cooling inflation per some indicators.
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The October Consumer Price Index, to be released next week, will provide critical data on whether inflation is continuing to moderate.