Federal Reserve's Harker says September employment data aligns with steady hiring trends

The Federal Reserve's Harker said on Friday that the September U.S. employment report aligns with recent hiring trends and noted that she still has time to decide on the next direction for monetary policy. Harker stated that the September employment report showed an increase of approximately 29,000 jobs and the unemployment rate rising to 4.2%, which is consistent with the sector's recent performance. “Over the past 12 months, an average of around 41,000 new jobs have been created each month, which roughly matches my estimate of the sector's 'break-even point' and indicates a stable trend in hiring,” said Harker. Regarding how the Federal Reserve should respond with monetary policy, Harker noted: “Before the meeting at the end of this month, we will still receive a lot of information, so there is ample time to decide on our policy stance to ensure we can fulfill our established mission.”