CBS News ---election updates1 Nov 2024 19:25
October jobs take a hit from hurricanes, strike
U.S. payrolls slumped sharply in October, weighed down by people not working as a result of two hurricanes and a major labor dispute.
The U.S. added just 12,000 jobs in October, well below economists' estimate of 100,000, marking the slowest month for hiring since December 2020. Payroll gains for September were revised down to 223,000, from 254,000.
Unemployment in October held steady at 4.1%. The lackluster report reflects a dent in hiring attributed to Hurricanes Milton and Helene, and the Boeing machinists strike, which temporarily prevented some people from working in Florida and North Carolina.
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