Reported 25 days ago
In October, US payroll growth slowed to just 12,000, the weakest increase since 2020, mainly due to the impact of severe hurricanes and a significant strike at Boeing. While the unemployment rate remained stable at 4.1%, the report highlighted notable declines in manufacturing jobs and an overall softening in the labor market. Economists suggest that the ongoing trends indicate a struggle for job market recovery, with expectations of rate cuts by the Federal Reserve in the wake of this report.
Source: YAHOO