Harris suffers a 'noisy' jobs report. Trump aides still claim the 'numbers were cooked.'

Published On Nov 1, 2024, 11:12 AM

The US labor market added only 12,000 jobs in October, significantly below the expected 100,000, largely due to disruptions from recent weather events and strikes. The report has become a focal point in the political debate, with Vice President Kamala Harris and her aides attempting to downplay the negative figures by attributing them to these disruptive factors. Meanwhile, Trump's campaign is attacking the numbers, implying they are manipulated to benefit the current administration, thus using them for political leverage ahead of the 2024 election. Despite the poor results, some economists suggest that overall economic trends remain positive, stating that this report does not change the strong job growth seen during President Biden's term.

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The job market's unexpected slowdown could imply challenges for consumer spending and investor sentiment leading up to the election, especially if the economy does not show resilience in subsequent reports.

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