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.
Trump threatens to pull Boebert endorsement, calls congresswoman ‘weak minded’ over Massie support
Trump celebrates after UN climate committee moves away from its most extreme global warming scenario
Trump scores major Republican primary victory as Cassidy ousted in Louisiana
Maduro’s alleged ‘bag man’ Alex Saab arrested less than 3 years after Biden pardon: report
Massachusetts governor asks US Navy to help retrieve bodies, evidence from sunken fishing vessel
Trump shares stunning photos of Lincoln Memorial Reflecting Pool renovation, says project is ahead of schedule
Suspected drunk driver kills 2 pedestrians in violent chain-reaction crash on Manhattan’s Upper West Side
Breaking: US Makes ‘Intense Preparations’ for Impending Iran Attacks as Trump Sends Warning
US Attorney Pirro Lays Down Law: Parents Need to Stop ‘Teen Takeovers’ or Face Jail
We Were Right: 13 Heads Roll as DC Police’s Conspiracy to Deceive Public on Astronomical Crime Rates Exposed
Masked suspect charged with using fuel, fireworks in Walmart kids section as cover for massive jewelry heist
Former college soccer player killed in boat crash after group allegedly took vessel without authorization
Pope Leo does ‘6-7’ trend for children at the Vatican
Violent Repeat Offender Left Psych Ward Days Before Allegedly Shooting Up Busy Massachusetts Street
Second FDA executive departing organization in less than a week as top drug regulator claims she was fired
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.
