The Federal Reserve is unlikely to cut interest rates this month, and a weak labor market has become a consensus

According to Jin Ten, Jerry Tempelman, Vice President of Fixed Income Research at Common Capital Management in the U.S., stated that the data disruption caused by the prolonged government shutdown has provided economists with profound insights into the labor market for the first time in three months in today's employment report. Although the unemployment rate reached a four-year high in November, the weak labor market backdrop has not raised concerns sufficient to support further interest rate cuts by the Federal Reserve this month.