Live Updates: Jobs in Focus in Last Key Report Before Election

Published On Nov 1, 2024, 5:53 AM

The article discusses the upcoming jobs report from the Labor Department, expected to show a slowdown in job creation due to significant disruptions caused by strikes at Boeing and damaging storms. Economists predict job growth will be around 110,000 for October, a notable drop from September's strong numbers. Despite these concerns, consumer spending remains robust, contributing to economic growth and indicating stability in the recovery from the pandemic recession. Additionally, the article highlights that uncertainty surrounding the presidential election may also be affecting hiring decisions, with some businesses pausing their hiring until after the election.

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The upcoming jobs report is likely to reflect the impact of the Boeing strike and recent storms, suggesting a weak employment outlook for October. However, robust consumer spending and economic growth could offset some negative sentiment in the market, indicating potential resilience in sectors less affected by these disruptions.

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