- Job listings fell, per data predictions.
- Lack of wage growth could lead to higher interest rates.
- As the job market falls there is hope for inflation to cool.
The labor market is falling gracefully, which is good news for the Fed who are in desperate need of a sign that inflation will cool.
According to the U.S. Labor Department’s job report for September 2022, employers added 263,000 jobs and the unemployment rate is 3.7%. There is still a concern of lack of wage growth. This, along with other job market data and inflation could still cause high interest rates, per our pre-job report prediction.
Stay tuned for more valuable data insights and predictions for Greenwich HR. Interested to know how your company can gain valuable key insights of the labor market? Learn more about our compensation and labor insights today and stay tuned for the October pre-job report.