US economy added 12,000 jobs in October, well below economists' expectations
Published On Nov 1, 2024, 8:33 AM
In October, the U.S. economy added only 12,000 jobs, significantly below the forecasted increase of 113,000 jobs by LSEG economists. The unemployment rate remained stable at 4.1%. Additionally, previous job growth figures for August and September were both revised downward, indicating a slowdown in employment growth.
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The disappointing jobs report suggests that the U.S. economy might be experiencing a slowdown, which could lead to decreased investor confidence and negatively impact market sentiment.
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