Job creation was much stronger than expected in October.
The U.S. economy added 128,000 jobs for the month and the unemployment rate rose to 3.6 percent, higher than the month before but still near a 50-year low.
Economists had expected the economy to add 75,000 jobs, with forecasts ranging between 55,000 and 155,000, according to Econoday. That unusually wide range was caused, in part, by differing views of how the General Motors strike would hit employment at suppliers and related businesses.
Unemployment was expected to tick up to 3.6 percent.
Federal judge rules Bill Essayli unlawfully serving as de facto US attorney in California
US military kills five in eastern Pacific strike on suspected drug-trafficking vessel
Florida girlfriend allegedly tracks cheating boyfriend, shoots woman in his car: reports
Halima Salman convicted of receiving ISIS military training in Syria, faces 10 years in prison
Harley-Davidson’s Decade-Long Electric Motorcycle Initiative Has Turned Disastrous
Rock Legend Donnie Iris Dies Less Than Three Weeks After Retiring from Performing
Federal officials identify 400 noncitizens registered to vote in Washington state: ‘Tip of the iceberg’
Cassidy Hutchinson avoids indictment after DOJ effort to charge her over Jan 6 testimony fails: sources
NYC Mocked as Mamdani Builds New ‘Sidewalk Sheds’ That Drain Water Toward Buildings, So Expensive City Refuses to Give Price Tag
Man accused of threatening to hijack United flight says it was a drunken joke
Report Claims Hegseth Has Asked GOP Candidate for Governor to Appoint Him to Senate Seat
After Biden Set Precedent, Trump Is Considering Vast Pardons for Junior Staffers So Dems Can’t Persecute Them Once He’s Gone
JB Pritzker Blames ‘GOP Dysfunction’ for His State’s Problems – Ignores Decades of Dem Trifectas
Rep Tom Tiffany claims Kamala Harris’ visit signals weakness in David Crowley’s Wisconsin campaign
Russian diesel tankers close in on US ports as Trump, Putin deal triggers legal showdown
Prior months were revised upward, indicating that the labor market has been much stronger than initial reports suggested. August’s initial 168,000 was revised up to 219,000. September’s soared from 136,000 to 180,000. Those revisions brought the three-month average up to 176,000.
The strength of the labor market was even more impressive because of the drag created by the GM strike and the government shedding workers it hired to conduct the census. The manufacturing sector shed 37,000 jobs in the month, many of which economists expect will be added back now that GM workers are back on the job. The government cut back by 17,000 jobs.
The pace of average hourly earnings rose by one-tenth of a percent to a year-over-year 3 percent gain. The average workweek was unchanged at 34.4 hours.
Story cited here.
