US Payroll Growth Disappoints as Storms and Strikes Disrupt Employment

In a surprising turn of events, the US Labor Department reported a modest increase in payrolls for October 2024, revealing that the economy added just 12,000 jobs during the month. This figure is significantly lower than economists' anticipations, which had forecasted a gain of around 200,000 jobs. Factors contributing to this lackluster performance include severe weather conditions, particularly storms that wreaked havoc in various regions, as well as ongoing strikes affecting critical industries.

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