US Employment Growth Slows in October Amid Strikes and Hurricane Impact

According to BlockBeats, on November 1, the growth in U.S. employment significantly slowed in October due to the impact of a hurricane and aerospace factory workers' strikes. Despite this, the unemployment rate remained steady at 4.1%, indicating that the labor market maintains a solid foundation ahead of next Tuesday's election. The unemployment rate was not distorted because striking workers are counted as employed in the household survey, which is the basis for determining the unemployment rate. The Bureau of Labor Statistics classifies workers unable to work due to severe weather as employed but not working. Economists anticipate that the Federal Reserve will disregard these anomalies and lower interest rates by 25 basis points next Thursday.