Posted on 11/06/2015 6:24:20 AM PST by SeekAndFind
The American economy added 271,000 jobs in October, a very strong showing that makes an interest-rate increase by the Federal Reserve much more likely when policy makers meet next month.
The report on hiring and unemployment, released Friday by the Labor Department, was eagerly anticipated on Wall Street, where traders and economists have been sifting each new bit of economic data for any augury of the central bank’s course.
The unemployment rate dipped to 5.0 percent, from 5.1 in September.
At this level, the unemployment rate is close to what would normally be considered the threshold for full employment by the Fed and many private economists.
However, the so-called slack that built up in the labor market after the recession has altered traditional calculations of how far unemployment can fall before the job market tightens and the risk of inflation rises.
This week, Janet L. Yellen, the chairwoman of the Fed, told a panel on Capitol Hill that an increase in December was a “live possibility†if the economy continued to perform well.
Still, Ms. Yellen left herself and the rest of the Open Market Committee of the Fed plenty of wiggle room, emphasizing that no decision had been made on whether to raise rates for the first time in nearly a decade. Indeed, they will have an additional jobs report for November in hand by the time they gather for their last meeting of the year, on Dec. 15 and 16.
Although the initial interest rate increase would be small, most likely a quarter of a percentage point, with rates’ having sat near zero since the depths of the recession in late 2008, any increase would represent a new era for investors and borrowers here and abroad.
(Excerpt) Read more at nytimes.com ...
Bull.
Sure...I believe this...from the Lyin’ King.
Labor participation rate remains at a 40-year low.
You bet this is BS.
Hey “Labor Bureau Statistics” fans! What day is it? It’s Fun With Numbers Friday!
I guess part time jobs count.
Oh my. This is getting so old.
5 X 3 = 15%, not 5%
Not in my universe or any of my buddies that have been laid off. They’re just liars like they always are removing the number of people working from the count. 95M people out of work (or more), a population of 310M and they get 5.0 %?. Pathological liars using Common Core math. That’s the ticket.
5.0% unemployment is pretty close to "full employment." With full employment comes inflation (caused in part by worker shortage). The only way to combat inflation is to raise interest rates.
Time for Yellen to raise interest rates - just in time for the 2016 election!
5.0 I don’t believe it.
One must use full force here...with my apologies: bull shit!
5.1 unemployment rate their leftist foot. Total mega lie.
So then we have no need for immigration, Latin, Syrian or otherwise, correct?
More lies from our trusted government. I don’t believe anything that comes from inside the beltway.
I think we have been lied to for so long it makes no difference ant more, just more of the same.
On a sliding scale, there are lies, damned lies, statistics, and, in last place, tales from the New York Times.
5.0 interest rate, not 5.1. Sorry, an even bigger lie.
The New York Times decrees ‘be happy in your work’.
Apparently, Amazon, UPS and other companies have been hiring large numbers of temp workers for the upcoming Veterans Day sales, Black Friday and Christmas sales.
Few if any of those temps will be employed after New Years, 2016.
Explanations: Fewer people want to work than ever before, and more people have found a way to survive without working than ever before.
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