Economics
U.S. Hiring Resilient With 128,000 Gain, Validating Fed Pause
- Automakers, census subtracted more than 60,000 jobs in October
- Fed can ‘take a victory lap’ as report supports Powell stance
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U.S. hiring was unexpectedly resilient in October and prior months saw sharp upward revisions, validating the Federal Reserve’s signal of a pause from interest-rate cuts and indicating consumers will extend the record-long expansion despite weak business investment and trade tensions.