U.S. Job Growth Cools in October but Labor Market Remains Resilient
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U.S. economy added 150,000 jobs in October, extending a year-long cooling trend that has brought hiring down to pre-pandemic levels.
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Unemployment rate rose slightly to 3.7% in October, though it remains near historic lows.
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Wage growth moderated slightly in October but still rose 4.1% over the past 12 months.
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Manufacturing job growth slid in October, likely due to strikes by 45,000 autoworkers.
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Job market remains resilient with low unemployment and solid wage gains, supporting continued consumer spending.