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U.S. Employment Edges Up

iHub News
Latest News
November 01 2024 9:07AM

With increases in healthcare and government jobs partly offset by decreases in temporary and manufacturing jobs, the Labor Department released a report on Friday showing employment in the U.S. edged only slightly higher in the month of October.

The Labor Department said non-farm payroll employment crept up by 12,000 jobs in October after jumping by a downwardly revised 223,000 jobs in September.

Economists had expected employment to climb by 113,000 jobs compared to the surge of 254,000 jobs originally reported for the previous month.

Meanwhile, the report said the unemployment rate came in at 4.1 percent in October, unchanged from September and in line with economist estimates.

At 9:45 am ET, Dallas Federal Reserve President Lorie Logan is scheduled to deliver a welcome address before the Women in Central Banking Workshop.

The Institute for Supply Management is due to release its report on manufacturing activity in the month of October at 10 am ET. The ISM’s manufacturing PMI is expected to inch up to 47.6 in October from 47.2 in September, but a reading below 50 would still indicate contraction.

Also at 10 am ET, the Commerce Department is scheduled to release its report on construction spending in the month of September. Construction spending is expected to come in unchanged in September after edging down by 0.1 percent in August.