October Jobs Report Shows Labor Market Cooling With Modest Job Gains But Rising Unemployment
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October jobs report suggests labor market is cooling down and back on track after September spike.
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Strikes by UAW and Hollywood creators led to manufacturing and entertainment job losses in October.
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US economy added 150,000 jobs in October; unemployment rate ticked up to 3.9% from 3.8%.
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Wall Street celebrates as investors bet Fed is done with rate hikes after holding rates steady.
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Jobless claims ticking up and continuing claims at highest level since April signal potential cracks in labor market.