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MNI BRIEF: Fed Kugler Plays Down Strong US Sept Labour Data

Fed Governor Kugler says focus on trend, not single data point.
USBundesbankPolicy NewsHomepageFederal ReserveCentral Bank NewsCEEMEAEurozoneGermanyBriefGlobalEuropean Central BankStoryRegionNorth America
MNI (LONDON)
The US Federal Reserve looks at the overall trend of the U.S. labour market and not any one particular point of data, Governor Adriana Kugler said on Tuesday, playing down the importance of Friday's data jobs report that saw a total 254,000 new jobs added in September and an upward revision of 72,000 for the previous two months.
 
"We don't want that labour market to cool too much, when there is a serious reduction of inflation", she told an ECB conference in Frankfurt, noting that cooling has certainly started to take hold in the labour market looking at "a whole constellation of data".
 
She pointed to how employment creation per month has been decelerating from 2022 and noted that several metrics in the labour market, such hiring, now sit at similar numbers than before the pandemic. Here earlier speech is here (see MNI: Fed's Kugler Supports More Cuts If Disinflation Continues )
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MNI (LONDON)
The US Federal Reserve looks at the overall trend of the U.S. labour market and not any one particular point of data, Governor Adriana Kugler said on Tuesday, playing down the importance of Friday's data jobs report that saw a total 254,000 new jobs added in September and an upward revision of 72,000 for the previous two months.
 
"We don't want that labour market to cool too much, when there is a serious reduction of inflation", she told an ECB conference in Frankfurt, noting that cooling has certainly started to take hold in the labour market looking at "a whole constellation of data".
 
She pointed to how employment creation per month has been decelerating from 2022 and noted that several metrics in the labour market, such hiring, now sit at similar numbers than before the pandemic. Here earlier speech is here (see MNI: Fed's Kugler Supports More Cuts If Disinflation Continues )