Summary:
US job growth slowed in October due to hurricanes and strikes, but the unemployment rate held steady at 4.1%, indicating a stable labor market.
Nov NFP
6/12/2024 (Fri)
Previous (Oct)：12k Forecast: 195k
US job growth slowed sharply in October amid disruptions from hurricanes and strikes by aerospace factory workers, but the unemployment rate held steady at 4.1%, offering positive signs of the labour market.
Nonfarm payrolls increased by 12,000 jobs last month, government data showed, far below economist forecast of an increase of 113,000. That marked the smallest gain since Dec 2020.
Wages increased at an annualised rate of 4.0%, which underpinned consumer spending and the overall economy. Retail sales rose more than expected in the month on purchase of motor vehicles and electronic goods.
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