[32 / 1 / 1]
The U.S. labor market grew by much less than expected in October, according to a government report released Friday morning, providing the final major update on the state of the American economy ahead of Election Day.
Key Facts:
The U.S. added 12,000 jobs last month, according to the Bureau of Labor Statistics’ estimate of the number of nonfarm payroll additions.
That falls far short of median economist estimates of 110,000, according to Dow Jones data, while it’s well below September’s initially reported 254,000 job additions.
October was the weakest month for job growth since Dec. 2020.
The unemployment rate came in at 4.1%, matching economists forecasts of a 4.1% jobless rate, where it stood in September.
The government revised August and September nonfarm payroll estimates down by 112,000, indicating weaker labor market expansion at the end of summer than previously reported.
https://www.forbes.com/sites/dereksaul/2024/11/01/us-added-12000-jobs-in-october-final-labor-market-datapoint-before-election-far-worse-than-expected/
Key Facts:
The U.S. added 12,000 jobs last month, according to the Bureau of Labor Statistics’ estimate of the number of nonfarm payroll additions.
That falls far short of median economist estimates of 110,000, according to Dow Jones data, while it’s well below September’s initially reported 254,000 job additions.
October was the weakest month for job growth since Dec. 2020.
The unemployment rate came in at 4.1%, matching economists forecasts of a 4.1% jobless rate, where it stood in September.
The government revised August and September nonfarm payroll estimates down by 112,000, indicating weaker labor market expansion at the end of summer than previously reported.
https://www.forbes.com/sites/dereksaul/2024/11/01/us-added-12000-jobs-in-october-final-labor-market-datapoint-before-election-far-worse-than-expected/
