Financial News: U.S. Employment Inches Up Far Less Than Expected

U.S. Employment Inches Up Far Less Than Expected In October

11/01/2024 - 08:36:00 (RTTNews)

(RTTNews) - With increases in healthcare and government jobs partly offset by decreases in temporary and manufacturing jobs, the Labor Department released a report on Friday showing employment in the U.S. edged only slightly higher in the month of October.

The Labor Department said non-farm payroll employment crept up by 12,000 jobs in October after jumping by a downwardly revised 223,000 jobs in September.

Economists had expected employment to climb by 113,000 jobs compared to the surge of 254,000 jobs originally reported for the previous month.

Meanwhile, the report said the unemployment rate came in at 4.1 percent in October, unchanged from September and in line with economist estimates.

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