Business Conditions Monthly: October Showed Slowing Inflation, Waning Momentum

American Institute For Economic Research 2.12K Follower s Follow 5 Share Save Play ( 20min ) Comments Summary The finally-released labor market data for October and November point to a sharper-than-expected slowdown, largely validating the Federal Reserve’s December rate cut and strengthening the case for further easing ahead. Initial and continuing jobless claims remain relatively low, signaling limited layoffs, while aggregate labor income continued to grow modestly, supported more by longer average workweeks than by wage gains, which slowed sharply in November. Services activity expanded at a solid but unspectacular pace in November as projects restarted following the government reopening and firms pushed through year-end work. Galeanu Mihai/iStock via Getty Images By Peter C. Earle Job growth is slowing, unemployment is rising, and affordability pressures persist heading into the critical holiday season. Economic resilience is at risk. As this report goes to press, 14 of the This article was written by American Institute For Economic Research 2.12K Follower s Follow AIER educates Americans on the value of personal freedom, free enterprise, property rights, limited government and sound money. Our ongoing scientific research demonstrates the importance of these principles in advancing peace, prosperity and human progress. www.aier.orgFounded in 1933, AIER is a donor-based non-profit economic research organization. We represent no fund, concentration of wealth, or other special interests, and no advertising is accepted in our publications. Financial support is provided by tax-deductible contributions, and by the earnings of our wholly owned investment advisory organization, American Investment Services, Inc. (https://www.americaninvestment.com/)

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