Fed cuts key rate
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3don MSN
Chicago Fed puts October unemployment rate at 4.35%, little changed from last official report
The U.S. unemployment rate remained stable at around 4.3% in October according to a Chicago Federal Reserve bank economic model that uses private data to estimate the jobless rate even in the absence of government statistics that have been unavailable since the start of an ongoing federal shutdown.
The Chicago Fed estimates that October's unemployment rate is 4.35%, just a tick higher than 4.34% in September, but noticeably higher than 4.14% in October 2024, the regional Federal Reserve Bank said on Monday.
The rate cut could gradually reduce costs for mortgages, credit cards, auto loans, and business borrowing, offering some relief to consumers and companies.
The reserve bank’s real-time unemployment rate forecast projects unemployment of 4.35% in October, versus 4.34% in September.
2don MSN
Illinois quick hits: Unemployment estimates little changed; State Fair discounted ticket sales
The Chicago Fed Real-Time Unemployment Rate Forecast estimates the U.S. Bureau of Labor Statistics monthly unemployment rate at 4.35% for October, little changed from its last reported value for August.
The International Labour Organization (ILO) announced that the unemployment rate in the West Bank during the first quarter of 2025 reached 31.7% for men and 33.7% for women. In
President Donald Trump has publicly chastised Federal Reserve Chairman Jerome Powell, who he appointed in 2017 to lead the central bank, over interest rate cuts.