Hicks: Jobs Report Shows ‘Cooling’ Economy

Hicks believes the Fed may take new action in December.

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Ball State University economist Michael Hicks says the September national jobs report is "more definitive evidence" of a slowing economy. He says despite the creation of about 142,000 jobs, twice as many workers quit looking for work as found jobs.

The national unemployment rate remained at 5.1 in September, its lowest level in seven years. The U.S. Department of Labor also revised July job gains down by 22,000 and August by 37,000. Indiana continues to outpace the nation. The state’s unemployment rate was 4.6 percent in August, which is the lowest it has been since August 2007.

Hicks says hourly wages declined slightly, and average hours worked signaled a decrease in demand for labor.

You can see the full employment report by clicking here.