A dismal jobs report released Friday showed that just 12,000 jobs were added to the U.S. economy in October, much lower than the 100,000 analysts expected.
The report from the Bureau of Labor Statistics also noted a downward revision for August and September, saying it had overestimated growth by around 112,000 jobs. CNBC reported that the 12,000 jobs added in October was the fewest since December 2020.
“Within professional and business services, employment in temporary help services declined by 49,000 in October. Temporary help services employment has decreased by 577,000 since reaching a peak in March 2022,” the bureau found. “Manufacturing employment decreased by 46,000 in October, reflecting a decline of 44,000 in transportation equipment manufacturing that was largely due to strike activity.”
BREAKING: The final jobs report before the election is a bad one for the White House.
Just 12,000 jobs added, falling 100,000 short of expectations. This is the smallest gain since December 2020.
— Daily Wire (@realDailyWire) November 1, 2024
The report indicated that the impact of hurricanes and a Boeing strike contributed to the paltry job numbers. The southeast U.S. was hammered by Hurricane Helene at the end of September, while Hurricane Milton tore through Florida just a week later.
Sectors where employment ticked up included health care and government.
Numbers were also down for August and September, noting the actual jobs added in those months were much lower than first estimated.
“The change in total nonfarm payroll employment for August was revised down by 81,000, from +159,000 to +78,000, and the change for September was revised down by 31,000, from +254,000 to +223,000. With these revisions, employment in August and September combined is 112,000 lower than previously reported,” the bureau noted.
Kamala Harris and Joe Biden LOST our country 46,000 manufacturing jobs just in the month of October.
Their economic policies are CRUSHING working class Americans.
We cannot afford four more years of this. We must turn the page.
VOTE FOR TRUMP!
— Alex Bruesewitz 🇺🇸 (@alexbruesewitz) November 1, 2024
The unemployment rate for October was 4.1%, with an estimated 7 million unemployed. “These measures are higher than a year earlier, when the jobless rate was 3.8 percent, and the number of unemployed people was 6.4 million,” the bureau noted.
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The Trump campaign quickly jumped on the jobs report.
“BRUTAL: Just 12,000 jobs were created last month — FAR fewer than the 100,000 jobs economists expected. 46,000 manufacturing jobs were lost last month,” Trump War Room posted on X.
Senior Trump advisor Jason Miller said the report was a “f****ing disaster for Vice President Kamala Harris.”
“12,000 jobs??????? That’s it – only 12,000 jobs created in the entire country last month??? This is only 1/10 of what an already rounded-down, pessimistic estimate looked like,” he said.
