"October data from the household and establishment surveys are the first collected since Hurricanes Helene and Milton struck the United States. These hurricanes caused severe damage in the southeast portion of the country."
"The Federal Reserve will likely look through the noisy October jobs report and rely on the totality of labor market data which continues to point to a controlled downshift in job creation and labor supply absorption," EY senior economist Lydia Boussour said.
Labor strife also probably weakened October's job growth numbers. The Bureau of Labor Statistics said before Friday's news release that around 44,000 hotel workers, Boeing workers, and others were on strike as data for the report was being gathered.
The mixed results in the jobs report could complicate the Fed's interest rate plans into next year. The report is just one of many pieces of data Fed members will rely on when making their decision next week.
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