U.S. Added 12,000 Jobs in October—Final Labour Market Datapoint

November 1, 2024

The U.S. labour market saw a significant slowdown in October, with only 12,000 jobs added, a sharp contrast to the 110,000 that economists had forecasted.

This represents the weakest monthly job growth since December 2020. Additionally, the Bureau of Labour Statistics revised job gains in August and September down by 112,000, showing that the labour market was weaker in late summer than initially reported.

The unemployment rate, however, held steady at 4.1%, aligning with economists’ expectations and the September figure. This final pre-election update on employment reflects a cooling labour market that may have implications for economic sentiment heading into Election Day.
Source: Forbes
Image: New York Post

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