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.
China Orders Airlines Not to Take Deliveries of Boeing Planes
Fox News Digital’s Presidential 100 Days Quiz
Alex Soros in hot seat after left-wing outlet exposes what his dad’s network thinks of his online footprint
MSNBC Staffers Realize Something About Rachel Maddow’s New Boss: ‘He Could Have a MAGA Hat at Home’
Karen Read’s ambulance ride admission becomes flashpoint at second trial
WATCH: Indiana man who killed girls on hike strikes defiant tone with police in new interrogation video
Trump dodges endorsements in messy GOP Senate primaries
San Francisco tries to ditch its drug strategy, pushes for ‘recovery first’ plan
2028 auditions for Democratic presidential nomination kick off as blue-state governor visits key early state
Kennedy Center cancels LGBTQ+ Pride events to align with new priorities after Trump fired center’s leadership
Judge temporarily blocks Trump order ending collective bargaining rights for most federal workers
Prominent Jeffrey Epstein victim Virginia Giuffre dies by suicide
Virginia Giuffre, Jeffrey Epstein and Prince Andrew accuser, dead at 41 by suicide: report
Ex-New Mexico judge, wife tried to hide evidence of illegal alien gangbanger, DOJ prosecutors say
Retired NYPD officer attacked in teen ‘gang assault’ after confronting them for harassing cab driver: report
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.
