Fed seen on track for 25-basis-point interest rate cuts next week, in Dec

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But analysts pinned the bulk of the weak showing on the tens of thousands of workers kept temporarily off the job by a Boeing strike and the impact of two large hurricanes in the U.S.

It showed that it may be getting harder to find a job once a person is out of work, with the average length of unemployment rising to 22.9 weeks, from 20.6 weeks in September.

They see about an 83% chance that the policy rate will be in the 4.25%-4.50% range by the end of this year, compared with 69% earlier.

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Category: BusinessFinance

Markets: IndiaMali

Topics: Jobs Nonfarm payroll US economy US Federal Reserve Interest Rates Economists

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Article Type: News Report

Published On: 2024-11-01 @ 22:11:35 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

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Sentences: 17 lines

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