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.
Dr. Phil Speaks Out Against Anti-Christian Persecution
Here’s Why Judge Blocked Blue State’s Gun Ban
Lindsey Graham, South Carolina senator who rose from small-town roots to GOP power broker, dies at 71
CIA’s Counter Espionage Department Investigated Unvaccinated Employees, Lawsuit Alleges
Florida Attorney General Calls to Impeach Judge Who Acquitted Murderous Mother
‘America and the world have lost a determined leader’: Tributes pour in after Sen Lindsey Graham’s death
NYC to move 110 single homeless men to quiet Brooklyn neighborhood, leaving locals worried: report
JonBenet Ramsey mystery reignited by lab scandal that adds pressure to unleash DNA help dad is ‘begging’ for
Platner aide hit with brutal timeline check after campaign denied rape claim, then folded days later
EXCLUSIVE: Former ‘Apprentice’ star picked by Trump to showcase America’s 250th anniversary through art
The RNC wants a massive Trump celebration. Some worry ordinary Republicans can’t afford to attend
BREAKING: GOP Sen. Lindsey Graham Dead at 71
Sen. Lindsey Graham dead at 71 after ‘brief and sudden’ illness, office says
Fox News Campus Radicals Newsletter: Alleged K-12 fraud, one school’s battle with Newsom and a win in Florida
‘Die Hard’ actor Robert Davi blasts Mamdani after NYC map omits Little Italy
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.
