A more complicated picture of the U.S. economy came into focus this morning from new Labor Department data. U.S. hiring appears to have dropped this summer, while the unemployment number continues to drop lower as discouraged workers give up job-hunting.
In all, it shows the economy is mending even slower than thought, and it may disrupt the Federal Reserve’s plans to stop its stimulus program. Economists had thought the Fed might begin to taper its bond-buying as soon as later this month. Generally, the Fed wants to see stable growth over a number of months, and workers entering the labor force–neither happened in the past few months. Read More