US hiring advanced at the slowest pace since 2020 in October while the unemployment rate held at a low level in a month distorted by severe hurricanes and a major strike.
Nonfarm payrolls increased 12,000 last month, following a downward revision to the prior two months. The unemployment rate held at 4.1% and hourly earnings remained firm, according to Bureau of Labor Statistics' figures released Friday.
Economists had warned the Boeing Co. strike as well as the two powerful hurricanes — Helene and Milton — that hit the Southeast in late September and early October would more negatively impact the payrolls number than the survey that informs the unemployment rate.
Source: Bloomberg
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