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Halloween may be over, but the October jobs report is giving us a belated scare.
Employers added just 12,000 jobs in October according to the newest employment data from the Bureau of Labor Statistics, marking the lowest payroll gain since December 2020, when jobs declined by 140,000.
October’s low employment gain was partially impacted by the ongoing Boeing machinists strike and hurricanes Helene and Milton. But it also continues the trend of a continually cooling labor market.
“This report is full of all kinds of blips and problems and issues due to the storms and strikes, but it actually is consistent with the