The number of new jobs created each month has been trending down for the past year — but there is also a good amount of positive data in the latest report.
These financial conditions include the rise and fall of the bond markets or the cost of borrowing money. The Federal Reserve does not have direct control over these conditions, but it tries to influence them.
Average hourly earnings rose 4.1% year-over-year in October; the rate peaked near 6% in March 2022. The slowdown in wage growth is helping the Fed wrestle inflation lower.