What the last major economic report before Election Day showed
Published Date: 11/4/2022
Source: 10 Tampa Bay
America’s employers kept hiring briskly in October, adding a substantial 261,000 positions, a sign that as Election Day nears, the economy remains a picture of solid job growth and painful inflation. Friday’s government report showed that last month’s hiring remained near the robust pace it has maintained in the two-plus years since the pandemic recession ended. The unemployment rate rose to 3.7% from a five-decade low of 3.5%. A strong job market is deepening the challenges the Federal Reserve faces as it raises interest rates at the fastest pace since the 1980s to try to bring inflation down from near a 40-hear high. Steady hiring, solid pay growth and a low unemployment rate have been good for workers. But they have also contributed to rising prices. MORE: https://bit.ly/3NAFdjW ►Subscribe: https://on.wtsp.com/youtube ►Website: https://www.wtsp.com/ ►Facebook: https://facebook.com/10TampaBay ►Twitter: https://twitter.com/10TampaBay