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.
Bessent invokes assassination attempt ‘2 hours after being sworn in’ in dramatic brushback of leftist threat
Missouri teen girl shot and killed at home, and now 3 friends face charges
Dems roasted for comparing Hegseth’s testosterone initiative to ‘gender-affirming care’
Fox News ‘Antisemitism Exposed’ Newsletter: Spotlighting 250 years of Jewish contributions to America
Bon Voyage: Alleged Spousal Abuser Dem Katie Porter Announces She’s Done With Politics After California Gubernatorial Disaster
Platner Part 2? ‘Firejumper’ Running for Seat That Could Determine Who Wins House Actually Lobbyist Defending Transing Kids, Drag Shows in Libraries
‘Somebody needs to do something’: GOP senators split as Tuberville demands McConnell answers
Five takeaways from Todd Blanche hearing as Trump’s attorney general pick gains more GOP favor
Trump AG pick hangs by a thread as key GOP senators refuse to commit
‘I Knew It Was On Me’ – TV Reporter Somehow Holds It Together as Giant Bug Crawls Across Her Chest While She’s On Camera
AOC paid pro-Palestinian activist who fundraised for refugee camps suspected of being Hamas strongholds
House Campaign Cash Tracker: Democratic challengers raise big money, but GOP incumbents maintain advantage
Two families sue North Dakota hospital on allegations babies were switched at birth
ICE arrests record 238 illegal immigrants in one day during South Texas enforcement operation
Lindsey Graham’s final act reverberates in Senate as sister is urged to “keep pedaling”
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.
