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.
Jurors Were Aghast and Karmelo Anthony Wouldn’t Look as Gruesome Image of Austin Metcalf’s Punctured Heart Was Presented at Trial
Tim Walz Gets Referred to DOJ for ‘Full Criminal Investigation’
Obama pays tribute to chef who tragically drowned at vacation compound with new honor
WATCH: SPLC chief doubles down on placing Charlie Kirk’s Turning Point USA on ‘hate map’
Florida GOP gubernatorial primary candidate says as governor, he’d ‘shut down’ every abortion clinic in state
Trump’s DOJ pick in trouble as GOP concerns threaten confirmation
Trump Provides Update After US Army Helicopter Goes Down Near Strait of Hormuz
Charlotte train stabbing suspect dodges potential death penalty for now after he’s ruled incompetent
VIDEOS: Mamdani’s Knicks Party Descends Into Violence, Pandemonium With Cops Forced to Use Pepper Spray to Restore Order
Bombshell claims by former campaign director rock Platner’s campaign hours before polls open
Watch: NY Knicks Fans Desecrate National Anthem to Spite Trump
Utah prosecutors ask judge to shut down delay tactics in Charlie Kirk assassination case
Four Armed Teens Try To Carjack Marine Vet: It Doesn’t End Well for Them
Trump’s SAVE America Act shows signs of life in the Senate despite Republican revolt
EPA And Private Business Helps LA Wildfire Survivors Where City Won’t
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.
