So when you take out these huge swings, total job progress has slowed from 262,000 in September to 182,000 in October and 169,000 in November. Still, there have been loads of signs that the labor market is gradually cooling. Job openings have been coming down, and on an annual foundation, wage development has cooled to 4 % — in line with economists’ expectations, and down from a latest peak above 6 % Carrer News. Policymakers raised rates quickly from March 2022 to July of this yr, in the end pushing them to a range of 5.25 to five.5 percent in a bid to wrestle fast inflation underneath control by cooling the economy. They have since held borrowing prices steady for months as they wait to see the impact of their strikes up to now.
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