Delta maintains hold, employers add only 194k jobs


Fed closes in on November bond taper after jobs report

The Federal Reserve may move to begin reducing its support for the economy next month despite a sharp slowdown in jobs gains last month as the latest U.S. surge in COVID-19 cases crested and began to recede. Though employers added just 194,000 jobs in September, a report from the U.S. Labor Department showed, upward revisions to prior months’ data meant that all told the economy has now regained half of the jobs deficit it faced in December, compared with pre-pandemic employment levels. Fed Chair Jerome Powell said last month that he’d only need to see a “decent” September U.S. jobs report to be ready to begin to taper in November.

News Makanany