Unemployment up in October, BLS saysAlso this week, the Bureau of Labor Statistics announced a 3.7% rise in US unemployment in October - potentially the opening effects of the Federal Reserve's repeated interest rate hikes. 'The labor market is basically OK, but it does seem to be slowing,' Guy Berger, principal economist at LinkedIn in San Francisco, told Reuters. 'The Fed is going to try to thread the needle where they slow down the labor market enough to put downward pressure on wages and inflation, without causing a recession.

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