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.
The Left Loves ‘Land Acknowledgements’: Here’s One That Honors Our Forefathers and Actually Tells the Truth About Native Tribes
Arizona Corrections Officer Arrested for Smuggling 5,400 Rounds of Ammo for Mexican Drug Cartel
Trump gives Smithsonian days to replace ‘strange modernist sculpture’ with Founding Father
Diesel Just Hit $5.90 a Gallon with Refineries Maxed Out: Winter Won’t Get Any Better
‘History Worth Teaching’: Trump Demands Smithsonian Replace Woke Modernist Nonsense Giant Statue of Washington
GOP women sound alarm as Lindsay Clancy backlash revives calls to repeal 19th Amendment: ‘Definitely a threat’
Georgia killer who murdered two suburban real estate agents faces execution after 23-year wait for justice
Burglar Armed with Submachine Gun Raids Missouri House: The Homeowner Sent Him Home in a Body Bag
Police Called to Kamala Harris’s Malibu Mansion After Unknown Woman ‘Illegally Entered’
With ‘Choosin’ Texas,’ we’re all choosin’ Ella Langley
Deep-pocketed donors flocked to the SPLC to heal America’s divisions. Did it pay off?
Penn State frat cocaine bust blows lid off wider stimulant scourge hitting college campuses — and beyond
Vulnerable House Republicans embrace Trump as GOP bets on defying midterm history
Trump faces major test over appointing US attorneys without Senate approval
GOP rising star reveals how Republicans can lock down minority voters without Trump on ballot
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.
