This Week Could Show How the Fed Is Impacting the Job Market
This week will be very important for the jobs data, which can have a significant impact on inflation and the overall health of the economy. On Friday, the Labor Department will release its September jobs report. As projected so far, economists expect unemployment to remain unchanged at 3.7%. Tomorrow, we will also get the latest Job Openings and Labor Turnover Survey (JLOTS), which will show how many workers are leaving their jobs and how many employers are still looking for workers.
With the growing risk of an economic downturn, everyone will look to the labor market for any cracks. While this year has been good for wage growth and a strong job market for workers seeking job security, the Federal Reserve believes it raises prices. However, if the Fed acts too forcefully, a recession may be in the future.
If unemployment continues to remain high or the number of job openings declines sharply, it would simply mean that the Federal Reserve’s rate hike (which will slow our economy) is taking effect. While unemployment is not the only factor used to determine whether we are in a recession, it is one of the most important pieces of the puzzle, so rising unemployment numbers will be a sign that we are headed for a recession. going (if we’re not already in one)
September lived up to its reputation as being a pretty bad month for investors, and after closing out the year’s third quarter with further losses, stocks are headed to kick off October ahead of a big job count.
And as a final reminder to everyone with student loans, the applications for loan forgiveness should be available any day now, so it might be a good idea to get ready to fill one out as soon as you can. do not know how ? Check out our guide here.
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