October Job Growth Hits Lowest Level Since 2020

Hurricanes and labor strikes contribute to a sharp decline in job creation, raising concerns about economic stability ahead of Election Day.

The U.S. economy added only 12,000 jobs in October, marking the weakest growth since December 2020.
Hurricanes Helene and Milton, along with major labor strikes, significantly impacted job numbers, according to the Bureau of Labor Statistics.
The unemployment rate held steady at 4.1%, but revisions to previous months' data reduced job creation figures by 112,000.
Manufacturing employment saw a notable decline, losing 46,000 jobs, largely due to strike activity in the transportation equipment sector.
Economists suggest that the job market is cooling but remains fundamentally healthy, with expectations for a rebound in November.