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.
‘Fauda’s’ new season is a gripping, moving tribute to the victims of Oct. 7
Arab parties set up for kingmaker role in Israeli election despite Netanyahu’s move to ban them
Three college students face federal charges over alleged threats against Trump ahead of campus rally
Trump planning a 10-state travel blitz in the midterms’ closing stages — visiting all but one battleground
Fox News Campus Radicals Newsletter: Christianity rejected, socialist streamer speaks, violence glorified
FBI’s first cyber fugitive on Ten Most Wanted list returns to US after capture in Venezuela
Blue state councilman mocked after claiming self-driving cars are ‘murdering’ pets: ‘Hide your cats’
Watch: Letitia James Has No Answer When Reporter Points Out Big Problem with Her Cornell Move
Inside explosive Cornell rape allegations: 7 men accused, conflicting accounts and a political firestorm
DNA Test Leads to Adopted Man Learning His Biological Father Is a Rock-and-Roll Legend
Justice Department Finds UCLA Law Has Been Discriminating Against White, Asian Applicants for Years
Watch: Reporter Narrowly Dodges ‘Murder Attempt’ While Filming Outside ‘Taxpayer Funded Drug Dealing Operation’
Death row inmate unconscious on ventilator after botched execution for teen’s killing: attorneys
‘Cornell 7’ Case Turns Political as Kathy Hochul Gets Involved with Executive Order
Los Angeles County Rolls Out New 10.25 Percent Sales Tax
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.
