US Jobs Report: Unemployment Rises, Growth Slows — SkimNews
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- The September federal jobs report showed a rise in unemployment rates and slowing job growth, easing pressure on the Federal Reserve to hike interest rates ahead of the midterm elections.
- U.S. stocks rose following the release, with the jobs data tempering the outlook for further rate hikes even as one outlet framed the labor market as holding steady.
Why it matters: A softening labor market eases pressure on the Fed to raise rates before the midterm elections, directly fueling the post-report U.S. stock rally and reducing the urgency of further monetary tightening.
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