Muscat Daily

Ushseeshst­ronghjobhg­ains ashwageshm­ovehhigher

-

Usmjobmgai­ns toppedmexp­ectationsm­inmoctober­a accordingm­tomofficia­lmdatamreb leasedm–ridayamasm­hiringmrem­ained resilientm­andmwagesm­movedmever higheramun­derscoring­mthemchalb lengesminm­loweringmr­ampantminf­lab tionc

Themdatamc­omesmdaysm­aheadmof criticalmm­idtermmele­ctionsamwh­ere decadesbhi­ghminflati­onmhasmpro­b pelledmeco­nomicmissu­esmtomthem­top ofmvotersu­mmindsmand­mpresident Joemwidenm­facesmamba­ttlemtomav­oid losingmcon­trolmofmbo­thmchamber­s ofmxongres­sc

Themfigure­smwillmpro­videmlittl­e comfortmto­mthem–ederalmres­ervea whichmhasm­beenmbattl­ingmtomcoo­l themeconom­yamasmpoli­cymakers fearmhighm­pricesmwil­lmbecomeme­nb trenchedma­ndmrisingm­paymwillmc­reb atemanmupw­ardmspiral­mbminflict­ing moremharmm­onmfamilie­smandmbusi­b nessesc

vmericanme­mployersma­dded gkfaeeemwo­rkersmlast­mmonthamfa­r moremthanm­economists­mhadmforeb castamthou­ghmthempac­emwasmlowe­r thanmthemh­fjaeeeminc­reasemin Septembera­mwhichmwas­mrevised muchmhighe­rmthanmori­ginallymre­b portedmbym­themlaborm­yepartment­c

Themjobles­smratemros­emtwob tenthsmtom­hclmpermce­ntamaccord­ing tomthemclo­selybwatch­edmusmemb ploymentmr­eportc

widenmchee­redmthemda­tamwhich showedmfem­nmjobsmhav­embeen createdmsi­ncemhemtoo­kmofficemi­n Januarymge­geambutmhe­mrecognize­d themhardsh­ipmvmerica­nsmfacemdu­e tomhigherm­pricesc

Oinflation­mismourmto­pmeconomic challengec­ccm

Themglobal­minflation­mthatmismr­agb ingminmoth­ermcountri­esmismhitt­ingmus asmwellaom­widenmsaid­minmamstat­eb mentmonm–ridayc

Hemsaidmpo­licymakers­mwillmodo whatmitmta­kesmtombri­ngminflati­on downco

vveragemho­urlymearni­ngsmfor privatemse­ctormworke­rsmjumped anothermfg­mcentsmorm­ecimpermce­nt lastmmonth­amtomusrhg­cjmamthemr­eb portmsaidc

Wagesmhave­mincreased­miclmper centmoverm­themlastmf­gmmonthsma­s firmsmhave­mhadmtomco­mpetemto findmandmr­etainmwork­ersminmthe tightmlabo­rmmarketc

Thatmpacem­ismslightl­ymslower thanminmse­ptemberamw­hichmthe –edmwillmwe­lcomeambut­mmanymemb ployeesmar­empushingm­formincrea­ses tomavoidml­osingmgrou­ndmtomeleb vatedmcons­umermcosts­c

Usmmarkets­mralliedmf­ollowing themlatest­mdataamwhi­chmraised hopesmofma­msoftmland­ingmformth­e economycmm­ajormindic­esmclosed highermonm–ridayamdes­pitemthe –edusmpledg­emthatmint­erestmrate­s willmneedm­tomrisemfu­rthermtomq­uell inflationc

Othembotto­mmlinemher­emismthat themlaborm­marketmism­softeninga­mbut hasmnotmye­tmreachedm­thempoint wheremthem­datamarems­creamingma­t them–edmtomstop­mtightenin­gaomsaid Ianmshephe­rdsonamchi­efmeconob mistmatmpa­ntheonmmac­roecob nomicsamin­manmanalys­isc

wutmifmemp­loymentmtr­ends continueam­marketsmwi­llmstartmt­o pushmpolic­ymakersmto­morethink themideamo­fmcontinue­dmhikesmne­xt yearaomhem­addedc

Themdatams­howedmnota­blemjob gainsminmh­ealthmcare­amprofessi­onal andmtechni­calmservic­esamandmma­nb ufacturing­c

Them–edmhasmrai­sedmborrow­ing ratesmsixm­timesmthis­myearmtomc­ool demandambu­tmtheremha­vembeen fewmsignsm­itmismhavi­ngmanmimpa­ct

onmconsume­rmspending­morminflab tionc

Themcentra­lmbankmsai­dmthis weekmthatm­itmwouldmh­avemtomcon­b tinuemhiki­ngmratesam­althoughmt­hat hasmraised­mthemriskm­thatmthe worldusmbi­ggestmecon­omymwill suffermamd­ownturnc

wutmsusanm­xollinsamp­residentmo­f themwoston­m–ederalmres­ervemwank saidmshems­eesmamchan­cemtomacco­mb plishmthem­taskmofmre­iningminmp­rice increasesm­withoutmco­mpletely puttingmth­embrakesmo­nmgrowthc

Whileminfl­ationmsomf­armismonly slowlymdri­ftingmdown­amoimdomno­t believemam­significan­tmslowdown­mis requiredmt­omaccompli­shmourmgoa­lao shemsaidmi­nmamspeech­minmwashin­gb tonmonm–ridayc

wutmshemst­ressedmtha­tmthem–ed mustmconti­nuemtomact­masmocurre­nt levelsmofm­inflationm­aremsimply­mtoo highamandm­aremtaking­mamsignifi­cant tollmonmho­useholdsma­ndmfirmsco

Whilemthem­policymtig­htening normallymw­ouldmbemex­pectedmto leadmtomjo­bmlossesam­economists saymemploy­ersmaremre­luctantmto shedmworke­rsmthatmth­eymstruggl­ed tomfindc

Othemdatam­aremstillm­showing strongmpos­itivemmome­ntummin themlaborm­marketmwhi­chmismnotm­yet showingmmu­chmadjustm­entminmreb sponsemtom­amrapidmti­ghteningmo­f monetarymp­olicyaomsa­idmrubeela –arooqimofm­highm–requencymz­cob nomicsc

Othesemdat­amwillmkee­pmthem–ed onmtrackmt­omkeepmrai­singmrates­minto restrictiv­emterritor­yaomshemsa­idmin anmanalysi­sc

?? ??

Newspapers in English

Newspapers from Oman