Jobs Report Makes December Rate Hike A Lock, Raises Chance Of Four Hikes In 2019
(UPDATED: October 31st, 2018)
The latest monthly report on the employment situation in the US saw the unemployment rate dip to its lowest level since 1969. While the addition to non-farm payrolls was below expectations, upward revisions to prior months made this a very bullish report. The numbers will add to the Fed's confidence that it can raise interest rates more aggressively without it's having a negative impact on the US economy.
The Numbers: Here are several of the September report's highlights that are positive, some taken verbatim from the report itself:
- The unemployment rate is now 3.7% versus 3.9% a month ago.
- Nonfarm payroll employment increased by +134,000 in September.
- August nonfarm payroll employment gains were revised up from +201,000 to +270,000.