US Job Growth Slows in October as Auto Strikes Impact Manufacturing Payrolls

Human ResourcesMoney Matters
Written By Jennifer Joslyn

In October, U.S. job growth decelerated partly due to strikes by the United Auto Workers (UAW) against major Detroit car manufacturers, resulting in a drop in manufacturing payrolls. Meanwhile, the annual wage increase was the smallest in nearly two and a half years, indicating a moderation in labor market conditions and reinforcing market expectations that the Federal Reserve may not raise interest rates further in the near term.

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Jennifer Joslyn
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