Biden Laughs Widely at U.S. Job 'Surprise Growth'... Expectations for 'Big Cut' Extinguish

[Anchor]
The number of jobs in the U.S. increased much more than expected last month.

The strength of employment indicators, which has been the biggest driver of recession concerns, has eliminated the Fed's reason to hurry to cut rates.

This is Washington correspondent Kwon Jun-ki.

[Reporter]
President Joe Biden visited the White House press briefing room for the first time since taking office.

This is to put forward economic performance as the port union ended its strike in three days and the higher-than-expected employment indicators.

[Joe Biden / President of the United States] There has been very good news about the U.S. economy over the last two days.]

The market was also surprised by the increase in new jobs in the U.S. in September.

The number of jobs increased by 254,000 in a month, the largest increase in six months, and exceeded expert forecasts by more than 100,000.

Employment indicators for July and August were also raised, adding 72,000 to the previous statistics.

Despite the better-than-expected figures, Republicans even claimed that the statistics were fake, President Biden showed confidence in a soft landing in the economy.

[Joe Biden / U.S. President: (Senator Marco Rubio of Florida said today that employment indicators are fake, what do you think?) Fierce Trump-supporting Republicans say they're fake if they don't like it. Today's employment indicators remain the same as the numbers.

As the strong economy was confirmed, the observation that the Fed would cut interest rates by 0.5%p in November was extinguished.While a 0.25% cut in

has become more likely, even the prospect of stopping the rate cut has been raised.

The New York Stock Exchange welcomed the new employment data and all three major indexes closed higher.

This is YTN Kwon Jun-ki from Washington.