Recent employment data indicates an improving labor market, with 531,000 new jobs filled in October. In addition, the unemployment rate dropped to 4.6%, reflecting an increase in the number of people who have dropped out of the labor force. Recent vaccine mandates may have contributed to this phenomenon.
Consumer Price Index
Emerging inflation has become a primary concern for markets and policy makers. The most recent Consumer Price Index showed a 0.9% monthly increase, bringing the 12-month inflation rate to 6.2%, the highest in 30 years. Should this trend persist, the Federal Reserve is expected to change its policy toward higher interest rates.
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