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.
Carville calls for formal ‘schism’ with socialist candidates: ‘Can’t be in the same party’
Bill Maher presses Vance over Trump’s election fraud claims: ‘That s*** has to stop’
Former House intel leader points to Dem rhetoric ‘encouraging’ violence as 8th man charged in UFC terror plot
Hollywood Libs Pour Love on Beijing, Tout China as ‘First Petro-Zero Economy,’ But Facts Show Different Story
Global Elitism at Work: Amid Heatwave, European Commission Shuts Off AC – But Only For Lower-Level Workers
Bill Barr says Todd Blanche isn’t ‘a toady,’ urges senate to confirm Trump’s AG pick
Kentucky man charged with boating under the influence after female passenger, 19, goes missing
US search and rescue teams deploy to help Venezuela earthquake response
Are You Gay Enough To Get A California Utilities Contract? Here’s The Test
How a Ministry Is Spreading Christianity in Iran Using AI
Women accuse Pearadise founder of preying on them by turning ‘safe space’ into mansion of manipulation
NY governor hopeful vows showdown with Mamdani over socialist agenda: ‘I will stop him’
Firefighter brother of 9/11 victim incensed by ‘radical’ Muslims winning key Dem primaries
Trump-backed Letlow takes on John Fleming in runoff to replace Bill Cassidy
Incoming socialist DC mayor has a weak hand against Trump administration
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.
