Employers added only 12,000 jobs in October. That seems bad but there's a catch

"U.S. employers added just 12,000 jobs in October, a number skewed by strikes and hurricanes, indicating the labor market is cooling but resilient."

"The unemployment rate held steady at 4.1%, suggesting the overall labor market remains fairly sturdy despite the October job gains being weaker than expected."

"The machinists' strike at Boeing has had a significant impact, idling over 40,000 workers and accounting for much of the decline in manufacturing employment last month."

"Other indicators show a gradual cooling in the labor market, with job openings declining and employers facing less competition in hiring," said the Labor Department.

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