Fed seen on track for rate cut despite weak US October payrolls
Washington | US hiring advanced at the slowest pace since 2020 in October while the unemployment rate held at a low level in a month distorted by severe hurricanes and a major strike.
Nonfarm payrolls increased 12,000 last month, following downward revisions to the prior two months. The unemployment rate held at 4.1 per cent and hourly earnings remained firm, according to Bureau of Labor Statistics figures released on Friday.
Bloomberg
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