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Financial News: U.S. Employment Climbs Less Than Expected In October

U.S. Employment Climbs Less Than Expected In October

11/03/2023 - 08:36:00 (RTTNews)

(RTTNews) - After reporting much stronger than expected job growth in the previous month, the Labor Department released a report on Friday showing U.S. employment rose by less than expected in the month of October.

The closely watched report said employment climbed by 150,000 jobs in October after jumping by a downwardly revised 297,000 jobs in September.

Economists had expected employment to increase by 180,000 jobs compared to the surge of 336,000 jobs originally reported for the previous month.

The Labor Department also said the unemployment rate crept up to 3.9 percent in October from 3.8 percent in September. The unemployment rate was expected to remain unchanged.

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