Jobs
US Payrolls Increase by Just 12,000, Hit by Storms and Strikes
- October hiring weakest since 2020, prior months revised down
- Unemployment rate held at 4.1%, not distorted by hurricanes
This article is for subscribers only.
US hiring advanced at the slowest pace since 2020 while the unemployment rate remained low in October, a month distorted by severe hurricanes and a major strike at Boeing Co.
Nonfarm payrolls increased 12,000 last month, and hiring over the previous two months was weaker than previously thought, suggesting the underlying labor market continues to cool. The unemployment rate held at 4.1% and hourly earnings ticked up, according to Bureau of Labor Statistics figures released Friday.