Business Columnists
Opinion

October Jobs Report Breaks Hopes of a Federal Reserve Pause

October Jobs Report Breaks Hopes of a Federal Reserve Pause
Federal Reserve Chair Jerome Powell (L) speaks as President Joe Biden (R) listens during an announcement at the White House in Washington, on Nov. 22, 2021. Jim Watson/AFP via Getty Images
J.G. Collins
|Updated:
0:00
Commentary
The October jobs report showed that the economy added 261,000 new jobs, considerably better than the consensus estimate of 200,000 jobs. This morning’s print is 54,000 fewer jobs than were created in September 2022 and 461,000 fewer jobs than were created in the COVID recovery period of 2021. Net revisions for August and September added another 29,000 net new jobs. (It is generally believed that 200,000–250,000 jobs are required to accommodate population growth.)
J.G. Collins
J.G. Collins
Author
J.G. Collins is managing director of the Stuyvesant Square Consultancy, a strategic advisory, market survey, and consulting firm in New York. His writings on economics, trade, politics, and public policy have appeared in Forbes, the New York Post, Crain’s New York Business, The Hill, The American Conservative, and other publications.
Related Topics