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Saturday’s: 9AM 1590 AM/97.9 FM KVTA
Sunday’s: 7AM K-EARTH 101 FM
Hiring in the U.S. remained solid in October, presenting challenges for the Federal Reserve’s inflation fight.
Employers added 261,000 nonfarm jobs, more than expected and in line with the previous month’s 263,000.
The unemployment rate edged higher to 3.7%, up from 3.5% in September.
Hourly pay remained brisk rising at 4.7% year over year, matching September.
The Fed raised interest rates again this week in an attempt to try to bring inflation down from near a 40-year high.
At Wednesday’s Fed meeting, Chairman Jerome Powell said that in order to tame inflation, the central bank would likely have to raise rates high enough to weaken the job market. That could mean hiring will slow in the coming months or even that many employers will cut jobs and increase the unemployment rate.
