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October Jobs Surge Boosts Fed Rate Hike Odds | Markets & Money News
The October jobs report revealed an unexpected increase of 165,000 jobs, doubling estimates, and contributing to a decrease in the unemployment rate. While wage growth surpassed expectations, it poses inflation concerns for the Fed, potentially prompting a rate hike in December. Notably, the economy only needs 35,000 jobs monthly for stability, but recent growth is over three times that. However, the tech and media sectors saw a 12% job decline, with healthcare and social assistance leading job
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