Key inventory indices were being down modestly Soon immediately after markets opened as investors priced in An additional price hike this month but then recovered since they digested the optimistic for a longer period-phrase implications of the cooling labor market for Fed amount moves.
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The labor sector has defied predictions of a sharp slowdown in task growth for some of the 12 months. It may be that industries like leisure and hospitality are still catching up for their pre-COVID payroll amounts, states Ian Shepherdson, chief economist of Pantheon Macroeconomics.
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