Zachary Halaschak is an economics reporter at the Washington Examiner. Before moving to Washington, he worked in Alaska, covering politics, government, and crime for the Ketchikan Daily News. While there, Zach won the Alaska Press Club’s second-place award for best reporting on crime or courts for his coverage of a local surgeon’s alleged murder. He graduated from the University of Richmond in 2017 and is originally from Marco Island, Florida.
The economy beat expectations in September and added 336,000 jobs, the Bureau of Labor Statistics reported Friday, a sign that the labor market has momentum despite the Federal Reserve’s interest rate hikes.
The report shows that jobs are still being added and that the unemployment rate still remains low by historical standards. The unemployment rate remained at 3.8% in September.The Fed has carried out a historic effort to tighten monetary policy in response to the inflation that has wracked households over the past few years. Annual inflation, as measured by the consumer price index, fell from more than 9% last June to just over 3.7% as of last month.
The latest report, given the indications that the labor market is still humming right along, could increase the odds that the Fed will hold rates high for longer and could be a sign that the central bank could raise its interest rate target yet again.
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Consumer spending surprisingly robust despite inflation and interest rate hikesZachary Halaschak is an economics reporter at the Washington Examiner. Before moving to Washington, he worked in Alaska, covering politics, government, and crime for the Ketchikan Daily News. While there, Zach won the Alaska Press Club’s second-place award for best reporting on crime or courts for his coverage of a local surgeon’s alleged murder. He graduated from the University of Richmond in 2017 and is originally from Marco Island, Florida.
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