The recent jobs data released by the Labor Department revealed that the unemployment rate rose marginally to 3.7% last month from 3.5% in September, showing initial signs of a cooldown. Employers added 261,000 workers in October, adjusted for seasonality.
While indicating an otherwise welcoming economic resilience, the recent employment data could influence the Federal Reserve to continue with interest rate hikes, as indicated by the statement issued by the Fed Chair earlier this week.
