Federal Reserve's Hamack said that the September US employment report showed about 29000 new jobs added, and the unemployment rate rose to 4.2%, which is in line with recent recruitment trends. On average, about 41000 new jobs were created each month in the past 12 months, which is in line with the industry's breakeven point estimate. Hamak pointed out that a large amount of information will still be received before the meeting at the end of this month, giving ample time to decide on the stance of monetary policy. (Source: Jin Shi)
AI interpretation: This data clearly reflects the current situation of a balanced supply and demand in the labor market, and the slowdown in employment growth and the rise in unemployment rate jointly confirm the objective fact of economic cooling. Federal Reserve officials have confirmed the ease of policy adjustments through this data, indicating that the focus of monetary policy has shifted from simply combating inflation to dynamically balancing the job market. The market's expectation of tightening policies will weaken, and the certainty of the interest rate path will further increase.
