Stagnation in job growth is due to strikes and hurricanes. The October figures are the last jobs statistics to be published before the election.
In the United States, the number of employed people increased by 12,000 in October, while in September, 223,000 more jobs were created in the country than they left.
The employment figures for October are the last job statistics to be released before next week’s presidential election.
The slowdown in job creation is explained by strikes by Boeing company workers and hurricanes Helene and Milton.
The unemployment rate in the United States remained unchanged at 4.1 percent in October. In Finland, the corresponding figure was in September, 10.4 percent.
In the United States, job growth is expected to continue again in November. The inflation that has been disciplining the country has also subsided, and the central bank Fed is predicted to lower the key interest rate for the second time next week.
The US economic growth has been faster than in other Western industrialized countries. In the last quarter, the country’s gross domestic product grew by 2.8 percent.
However, the majority of Americans think that the state of the country’s economy is bad. Although inflation has slowed down, prices are still on average more than 20 percent higher than at the beginning of 2021, when inflation began to accelerate.
AP, Reuters