It's also worth noting that CDs are a safe place to store your money. However, that number is up about 0.5% month-over-month, and if it continues to tick upward, it could give the Federal Reserve yet another reason to reduce interest rates.
That equates to a loss of 849,000 jobs since April of this year.Īt the moment, the unemployment rate is 3.9% - which isn't going to sound any alarms. According to the United States Bureau of Labor Statistics, 6.5 million Americans are currently unemployed. That's a sign that corporations are expecting economic tightening and are reacting by making fewer jobs available. Unemployment is growingĪside from the fact that inflation seems to be slowing, the unemployment rate in the United States is beginning to tick upward. Should inflation continue in the downward direction, the Federal Reserve may begin to ease interest rates - resulting in lower CD returns. As such, there's a strong chance that we could see further dampening of inflation ahead. Sure, the current inflation rate is still well above the Fed's 2% target, but economic policy changes can have a delayed impact. Year-over-year growth in consumer prices slowed from 3.7% in September to 3.2% in October.
