The Chicago Fed model estimates that U.S. employment has clearly cooled, with the unemployment rate remaining at 4.3%

The Chicago Fed model shows that the U.S. unemployment rate remained around 4.3% in October, indicating a cooling job market but not out of control. Due to the government shutdown, official data has been suspended, and the model estimates are based on private sector data. The current results are consistent with the rising trend of unemployment claims in some states, showing that the job market is cooling but has not entered a recession. The Federal Reserve is expected to cut interest rates by 25 basis points to address the risks of economic slowdown and rising unemployment