According to the Federal Reserve’s October 9 meeting minutes, officials noted slowing job growth and modest unemployment increases amid moderate economic growth and ongoing labor market uncertainty.
The October 9 Federal Reserve meeting minutes indicated that officials observed slower job growth and a small rise in unemployment. They attributed these changes to reduced net immigration, shifts in labor force participation, and moderate economic growth. While wage growth and job vacancy ratios showed no sharp decline, some policymakers cited prolonged labor market weakness based on revised data. The discussion emphasized uncertainty around hiring trends and the broader economic outlook.