Reported 25 days ago
The US labor market faced significant challenges in October, with job growth nearly stagnant due to strikes in the aerospace sector and the impact of recent hurricanes. Nonfarm payrolls increased by only 12,000 jobs, the lowest gain since December 2020, and employment revisions for August and September also revealed a loss of 112,000 jobs. The unemployment rate remained steady at 4.1%, but this was largely due to a drop in labor force participation, with many unable to work full-time due to weather disruptions. As Americans prepare to vote, the economic uncertainty raises questions about their financial well-being compared to four years ago.
Source: YAHOO