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US Payrolls Increase by Just 12,000, Hit by Storms and Strikes
Friday, 1 November 2024 19:50 WIB | ECONOMY |Ekonomi ASNon-Farm Employment

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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