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Com TW NOw News 2024

US Jobs Report October 2024: Live Employment & Payroll News
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US Jobs Report October 2024: Live Employment & Payroll News

Thank you for joining us. Here are five Key Takeaways from the U.S. employment report for October, released Friday:

  • Last month’s hiring has progressed at the slowest pace since 2020. Nonfarm payrolls rose by 12,000 last month, following a downward revision from the previous two months. The unemployment rate remained at 4.1% and hourly wages remained stable
  • Importantly, the BLS said that the hurricanes likely to affect labor costs in some industries, but said it is not possible to quantify the net effect on monthly change in national employment, hours or income estimates
  • The BLS also noted the collection rate because the survey of companies that provides these statistics was “well below average”
  • Healthcare and government workforces increased, but employment in other industries remained largely flat or negative. Sectors such as retail, transport and warehousing, and leisure and hospitality all declined – likely a reflection of this weather-related disruptions; Manufacturing employment fell by 46,000, the largest decline since April 2020 and largely due to strike activity, including by 33,000 Boeing workers
  • Treasure chestswhich just edged their 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 the biggest slump in almost two months amid some earnings disappointments. S&P 500 contracts rose 0.5%. The dollar was little changed.