spot_imgspot_img

U.S. economy adds 12,000 jobs in October, fewer than expected

spot_img

The U.S. economy added 12,000 jobs in October, far fewer than expected and the lowest monthly total since December 2020.

With the election just days away, it’s unclear how Friday’s report from the U.S. Bureau of Labor will impact voting.

“Total nonfarm payroll employment was essentially unchanged in October (+12,000), and the unemployment rate was unchanged at 4.1 percent,” the bureau said. “Employment continued to trend up in health care and government. Temporary help services lost jobs. Employment declined in manufacturing due to strike activity.”

The economy and inflation have been the top issue on voters minds all year, according to most polls, including The Center Square Voters’ Voice poll in October.

“Job additions in October were light, with only a 12,000 net gain, but this could partly be attributed to a special one-time factor — the impact of recent hurricanes,” National Association of REALTORS® Chief Economist Lawrence Yun said in a statement. “However, the fact that job figures were revised lower in the prior two months, by a 112,000 in sum, clearly hints at a slowdown in the economy.”

The bureau noted that government job growth continued to rise.

“Employment in government continued its upward trend in October (+40,000), similar to the average monthly gain of 43,000 over the prior 12 months,” the bureau said. “Over the month, employment continued to trend up in state government (+18,000).”

DON’T MISS OUT

Be the first to know about the latest news, giveaways, events, and updates from The Black Chronicle!

We don’t spam! Read our privacy policy for more info.

spot_img
spot_img

Hot this week

African and Caribbean Nations Call for Reparations for Slave Trade, Propose Global Fund

Nations across Africa and the Caribbean, deeply impacted by...

Health care company agrees to pay $22.5 million to settle claims of over billing

A health care company agreed to pay nearly $22.5...

Sports betting expert offers advice on paying taxes for gambling winnings

(The Center Square) – Tax season is underway, and...

Entertainment district benefits don’t outweigh the cost, economists say

(The Center Square) — Weeks later, after more details...

Business association ‘disappointed’ by WA L&I’s proposed workers comp rate hike

(The Center Square) – The Association of Washington Business...

Texas officers apprehend human smugglers, rescue unaccompanied children

(The Center Square) – Texas Department of Public Safety...

Audit of nonprofit institute found misappropriated funds

(The Center Square) — The nonprofit Institute of Women...

VIDEO: Ex-ComEd exec not testifying to ‘trash’ Madigan during corruption trial

(The Center Square) – Former ComEd executive Fidel Marquez...

Kirsten Engel concedes, Ciscomani will keep House seat in Arizona CD 6

(The Center Square) – Juan Ciscomani has maintained his...

Louisiana Congressional seats cost less in 2024 election cycle

(the Center Square) — With incumbents in five of...

Republicans secure control of House of Representatives

Republicans will again control the U.S. House of Representatives,...

Ferguson, Brown lay out plans ahead of Trump’s second term

Governor-elect Bob Ferguson, Washington state's current attorney general, and...

Hudson reelected to key Republican chairmanship in House

(The Center Square) – Picks for the president's Cabinet...

More like this
Related

Texas officers apprehend human smugglers, rescue unaccompanied children

(The Center Square) – Texas Department of Public Safety...

Audit of nonprofit institute found misappropriated funds

(The Center Square) — The nonprofit Institute of Women...

VIDEO: Ex-ComEd exec not testifying to ‘trash’ Madigan during corruption trial

(The Center Square) – Former ComEd executive Fidel Marquez...

Kirsten Engel concedes, Ciscomani will keep House seat in Arizona CD 6

(The Center Square) – Juan Ciscomani has maintained his...