Jason Furman: Sept. job growth is ‘sustainable,’ won’t put ‘a whole lot more pressure on the Fed’
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Payrolls increased by 336,000 last month, almost doubling predictions and complicating efforts by the Federal Reserve to cool the economy with interest rate hikes. Andrea Mitchell is joined by Dom Chu and Jason Furman to weigh in on the September jobs report. “What we're seeing in this economy is labor supply is increasing,” Furman explains. “I think it's sustainable, because you saw wage growth slow down this month, and slow down in a way that I think will be consistent with getting to 2% inflation. So I don't think this puts a whole lot more pressure on the Fed.”Oct. 6, 2023
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