U.S. Employment Data Shows Significant Decline in October

According to ChainCatcher, a report from CITIC Securities indicates that the United States saw a significant reduction in non-farm employment numbers for October. This decline is partly attributed to federal government employees who accepted a 'delayed resignation' plan, subsequently exiting payrolls and impacting overall figures. CITIC Securities suggests that if the unemployment rate does not continue to rise in December, the Federal Reserve is likely to pause interest rate cuts in January of the following year. The remaining two Federal Open Market Committee meetings may see one more 25 basis point rate cut.