US Jobs Report October 2024: Live employment and payroll news

Thank you for joining us. Here are five Key insights From the US employment report for October released on Friday:

Hiring brought forward last month at the slowest pace since 2020. Nonfarm payrolls rose by 12,000 last month after being revised downwards from the previous two months. The unemployment rate remained at 4.1% and hourly wages remained stable
What is important is that the BLS said this Hurricanes has likely impacted payrolls in some industries, but said it was not possible to quantify the net effect on the monthly change in national employment, hourly or earnings estimates
The BLS has also pointed this out Collection rate because the survey of companies on which these statistics are based was “significantly below average”
Hiring increased in health care and public services, while employment in other industries was largely flat or negative. Sectors such as retail, transport and warehousing, and leisure and hospitality saw declines – likely a result of this weather-related disruptions; Manufacturing employment fell by 46,000, the largest decline since April 2020 and largely reflecting strike activity, including by 33,000 Boeing workers
Treasuryswhich just hit its worst monthly decline in about two years, rose after the release, with two-year yields down about 8 basis points as of 9:02 a.m. in New York. Stock futures also rose, a day after their biggest drop in nearly two months on some earnings disappointments. S&P 500 contracts rose 0.5%. The dollar has hardly changed.

Recent Posts