November jobs data: 'This is what a soft landing looks like'
12/08/2023 21:39
According to the latest jobs report, the US added 199,000 jobs in the month of November while unemployment fell to 3.7%, both data points contrary to economists' expectations. RSM Chief Economist Joe Brusuelas likens this labor print as "just another in a steady drumbeat of positive economic news," while Wolfe Research Chief Economist Stephanie Roth believes markets could re-adjust after running with the Federal Reserve's previous employment narrative. "By the time we get to the second half of next year, the Fed will be well-positioned to cut rates because we're going to be headed towards 2.5% on core and top-line inflation by the end of next year," Brusuelas tells Yahoo Finance, elaborating on the Fed's inflation and recession outlooks for 2024. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
According to the latest jobs report, the US added 199,000 jobs in the month of November while unemployment fell to 3.7%, both data points contrary to economists' expectations.
RSM Chief Economist Joe Brusuelas likens this labor print as "just another in a steady drumbeat of positive economic news," while Wolfe Research Chief Economist Stephanie Roth believes markets could re-adjust after running with the Federal Reserve's previous employment narrative.
"By the time we get to the second half of next year, the Fed will be well-positioned to cut rates because we're going to be headed towards 2.5% on core and top-line inflation by the end of next year," Brusuelas tells Yahoo Finance, elaborating on the Fed's inflation and recession outlooks for 2024.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.