It's a very good unemployment report, with initial claims falling by 12,000 to 216,000, the lowest number in almost 6 months, and continuing claims fell by 26 K to 1.86 Million.
A lot of this is people getting back to work after hurricanes Helene and Milton, though it should be noted that layoffs are up 3.7% year over year.
Meanwhile, PCE prices rose by .3% month over month, a bit higher than expected, which would seem to imply that the Federal Reserve will moderate any rate cutting. (My guess would be ……… Naah. Homie won't play that game today. I should probably never play that game.)
Wages continue to (slightly) outpace inflation, which in my mind is a good thing, though in the mind of the Federal Reserve, not so much.
Not a clue where this all goes.
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