The employment situation in September is predicted to resemble that of August, with a slowdown in hiring from earlier in the year, a slight rise in wages, and a labour market that is beginning to resemble what many policymakers had anticipated.
Nonfarm payrolls will increase by 150,000 from 142,000 the previous month, with the unemployment rate remaining stable at 4.2%. Regarding wages, the estimate is for a gain of 0.3% each month and an increase of 3.8% from the previous year — the yearly rate remains unchanged from August.
The Federal Reserve would be able to keep cutting interest rates without feeling compelled to act quickly enough to risk falling behind the curve and starting a recession if the figures came in about as predicted.
Chief investment officer of Northern Trust Wealth Management, “the jobs market is slowing down and becoming less tight.”
“Employers now hold a greater amount of authority than employees do, which will undoubtedly relieve wage pressure—a major driver of inflation. This is precisely how a soft landing appears, and it’s something our team has been practicing for a while.
Source (CNBC)
