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US Economy Adds 128,000 Jobs In October, Unemployment Rises

Headline Roundup November 1st, 2019

Jobs numbers for the month of October indicate that the US added 128,000 jobs, in spite of recent strikes at major corporations including General Motors. Unemployment rose from 3.5% to 3.6%, but is still on par with record lows from the last fifty years. Recent talks of a recession have focused additional scrutiny on the monthly report.

US Economy Adds 128,000 Jobs In October, Unemployment Rises

From the Left
302

US employers added a solid 128,000 jobs in October, a figure that was held down by a now-settled strike against General Motors that caused several thousand workers to be temporarily counted as unemployed.

The labor department says the unemployment rate ticked up from 3.5% to 3.6%, still near a five-decade low. For the second straight month, average hourly wages rose 3% from a year ago.

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From the Center
302

Nonfarm payrolls rose by 128,000 in October as the U.S. economy overcame the weight of the GM autoworkers’ strike and created jobs at a pace well above expectations.

Even with a decline of 42,000 in the motor vehicles and parts industry, the pace of new jobs well exceeded the estimate of 75,000 from economists surveyed by Dow Jones. The loss of jobs came due to the General Motors strike that has since been settled. That 42,000 job loss itself was less than the 50,000 or more that many economists had...

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From the Right
302

The U.S. economy added 128,000 jobs for the month and the unemployment rate rose to 3.6 percent, higher than the month before but still near a 50-year low.

Economists had expected the economy to add 75,000 jobs, with forecasts ranging between 55,000 and 155,000, according to Econoday. That unusually wide range was caused, in part, by differing views of how the General Motors strike would hit employment at suppliers and related businesses.

Unemployment was expected to tick up to 3.6 percent.

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