"[Friday's] weaker-than-expected jobs report not only reflected the effects of storms and strikes, but also of the continued labor market cooldown," ZipRecruiter chief economist Julia Pollak wrote in a note.
"The report is broadly consistent with the big picture that has emerged over the past two years: a labor market that is growing but slowing, and where growth is increasingly narrowly concentrated."
Payrolls were effectively flat in October with a gain of just 12,000 jobs (in an economy with total employment of 159 million!).
Other aspects of the report that should be unaffected by the hurricanes or strikes offered hints of weakness. Revisions to payrolls numbers subtracted 112,000 positions from August and September job growth.
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