Get the latest updates on the US economy and markets from International Business Times with our Newsletter! The number of Americans filing for unemployment benefits for the first time has skyrocketed, hitting the highest level since mid-August and signaling that the US labor market is slowing. The Federal Reserve said on November 1 that current interest rates are likely to impact economic activity, hiring, and inflation. This revelation, in addition to the Labor Department report on November 3 that showed the US economy drastically reducing its pace of job creation in October and the unemployment rate reaching near two year highs, keeps the spotlight on the US economic situation. Follow International Business Times for the latest insights on how current parameters such as high interest rates may affect the US economy with our Newsletter!
