U.S. Economic News
November 6, 2020
U.S. Economic Indicators
The U.S. economy gained 638,000 jobs in October, above expectations. The unemployment rate declined by 1.0 percentage point to 6.9% and the labor force participation rate rose 0.3 percentage point to 61.7%. BLS Report
U.S. News
The Wall Street Journal reports that Fed officials left policy essentially unchanged at the conclusion of their two-day meeting on Thursday while reemphasizing the scale of pandemic risks and the need for sustained stimulus. Fed officials remain insistent that additional fiscal support from Congress will be necessary given the limited effectiveness of the central bank’s tools to address the fallout from the pandemic. WSJ