Nov. 2 (Bloomberg) -- Employment in the U.S. rose more than forecast in October, suggesting a resilient labor market will steer the economy clear of recession even as the housing slump deepens.
Payrolls climbed by 166,000 after a 96,000 increase in September, the Labor Department said today in Washington. The jobless rate held at 4.7 percent.
Now economists will question the wisdom of the Fed cut. It is inflationary, which is why gold caught a bid.
There will be no more cuts this year and we could even see rate hikes next year. The dollar should stabilize and eventually gain against the Euro, unless of course the inflation factor supersedes all.
Payrolls climbed by 166,000 after a 96,000 increase in September, the Labor Department said today in Washington. The jobless rate held at 4.7 percent.
Now economists will question the wisdom of the Fed cut. It is inflationary, which is why gold caught a bid.
There will be no more cuts this year and we could even see rate hikes next year. The dollar should stabilize and eventually gain against the Euro, unless of course the inflation factor supersedes all.
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