September Job’s Report—-Was it high enough for the Fed to increase rates in December?
The US economy created 156,000 new jobs in September. The unemployment rate ticked up to 5% as more people entered the work force. The good news was the labor participation rate increased. The report comes at a critical time for the Federal Reserve as it looks to getting rates back to normal. The last rate increase was in December 2015, the 1st move in more than 9 years. The Fed has held off since then due to domestic and global concerns. In wake of these figures, the Fed is still expected to raise rates later this year.