NewsBite

Fed seen on track for rate cut despite weak US October payrolls

Molly Smith and Jonnelle Marte
Updated

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Washington | US hiring advanced at the slowest pace since 2020 in October while the unemployment rate held at a low level in a month distorted by severe hurricanes and a major strike.

Nonfarm payrolls increased 12,000 last month, following downward revisions to the prior two months. The unemployment rate held at 4.1 per cent and hourly earnings remained firm, according to Bureau of Labor Statistics figures released on Friday.

Loading...

Bloomberg

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Read More

Latest In North America

Fetching latest articles

Most Viewed In World

    Original URL: https://www.afr.com/world/north-america/us-payrolls-increase-by-just-12-000-hit-by-storms-and-strikes-20241102-p5knaa