📈 US unemployment data

Important data on unemployment in the US for September 2024 has been released. The actual increase in unemployment was 4.1% versus 4.2% for the previous period.

💡 Unemployment is the second indicator after inflation at the Fed. These two indicators are macro reasons for changes in the lending rate. Anything above 4% unemployment is a red flag for the economy and recession.

Details and market impact:

-  The number of people employed in the non-agricultural sector increased by 254,000 jobs;

-  The number of jobs has increased and the unemployment rate has decreased;

-  This has reduced the need for the Fed to maintain significant interest rate cuts at its two remaining meetings this year;

- The Fed is likely preparing to turn around an economy that has experienced its worst period of high inflation in a generation.