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.
Parents’ relentless hunt for missing daughter heats up as new tech breathes life into case
Pentagon Contractor Indicted for Leaking Classified Info to the Washington Post
Trump warns Canada of 100% tariffs if it becomes China’s ‘drop off port’ with new potential trade deal
Legal Analyst: There Are Still Several Ways Pam Bondi Can Charge Don Lemon for His Conduct
Campus Radicals: Union member tell-all, Dems back to DEI ways, more violent leftist threats on campus
Trump takes aim at Senate ‘blue slip’ tradition as GOP resists change
The Tide Has Turned on DEI in Nearly Every Major Institution, But Teachers and Educators Refuse to Ditch It
Hawaii RNC members pay their way to represent state: ‘It’s not a cheap hobby’
Cruz back in Texas after photo of him boarding plane sparks backlash ahead of winter storm
‘I Went to Princeton and Harvard!’: Michelle Obama Complains About Being Known as ‘Barack Obama’s Wife’
Johnson warns House Republicans to ‘stay healthy’ as GOP majority shrinks to the edge
Navy Under Secretary Hung Cao says personnel discharged over vaccine mandate were ‘failed’
Pentagon plans to give South Korea primary role in deterring North Korea threats under new strategy
Minnesota ‘on the clock’ as HHS threatens penalties over childcare fraud scandal
Man who allegedly threatened to shoot ICE agents had rifles, body armor and ammo cache, feds say
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.
