U.S. employers slammed the brakes on hiring over the last two months and wages fell in September, raising new doubts the economy is strong enough for the Federal Reserve to raise interest rates by the end of this year.
Total nonfarm payroll employment increased by 142,000 in September, and the unemployment rate was unchanged at 5.1%, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care and information, while mining employment fell.
Fed Chair Janet Yellen has made clear she would rather delay an interest rate hike for too long than move sooner and risk jeopardizing a tepid economic recovery, a conviction that will face its sharpest test yet on Thursday.
The number of Americans filing new applications for unemployment benefits fell last week to the lowest level in eight weeks, suggesting the labor market continued to strengthen despite the recent tightening in financial market conditions.
World stocks inched to a three-week high and the dollar drifted lower on Thursday as markets waited to see if the Federal Reserve would raise U.S. interest rates for the first time in almost a decade, or opt to wait a little longer.
Deutsche Bank aims to cut roughly 23,000 jobs, or about one quarter of total staff, through layoffs mainly in technology activities and by spinning off its PostBank division, financial sources said on Monday.