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State-Level Data Suggest US Payroll Weakness Is Likely Temporary
- Florida and Washington registered outsize declines in October
- JPMorgan predicts rebound in November employment report
Nonfarm payrolls in Florida decreased the most in the construction, leisure and hospitality and trade and transportation sectors.
Photographer: Gaia Squarci/BloombergThis article is for subscribers only.
Employment fell in Florida and Washington last month amid two hurricanes and a major strike at Boeing Co., adding to evidence that the significant pullback seen in the national hiring data is likely temporary.
Nonfarm payrolls in Florida decreased by 38,000 in the month of October, marking the biggest drop since 2017 excluding the onset of the Covid pandemic. And employment declined by 35,900 in Washington, according to Bureau of Labor Statistics data released Tuesday.