Ahead of the release of November’s unemployment numbers, Fed Reserve Chariman Jerome Powell said the economy is doing well overall. He cited “strong job creation and gradually rising wages.” Economists expect November’s report to indicated a strong pace of hiring. Meanwhile, stock-market losses due to the US-China trade war continue.
- Do you expect jobs to stay strong into 2019?
- Will the stock market find consistency soon?
On the eve of the scheduled release of November employment data, Federal Reserve Chairman Jerome Powell delivered a bullish assessment of the US economy and the labor market.
“Our economy is currently performing very well overall, with strong job creation and gradually rising wages,” said Powell in a speech to be delivered on Thursday at a housing conference in Washington. “In fact, our labor market is very strong through many national measures.”
Economists forecast a moderating but still strong hiring rate in the monthly report of the Labor Department Friday at 8:30 a.m. in Washington, despite some job market data this week showing the cooling potential.
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