Job Growth Slowdown and Economic Resilience Amid Strikes and Hurricanes

U.S. job growth likely decelerated in October, affected by hurricanes and worker strikes, yet the steady unemployment rate suggests a robust labor market. This provides reassurance for the economy ahead of the upcoming presidential election, despite market challenges, including high prices and strategic corporate adjustments.

In October, U.S. job growth faced unexpected challenges, with hurricanes and strikes impacting the labor market. Despite these hurdles, the unemployment rate remained steady, suggesting underlying economic resilience. Authorities and analysts are monitoring these changes closely, especially with the forthcoming presidential election.

The Labor Department's imminent report, crucial before the election, will shed light on the economy's health, as voters decide between Vice President Kamala Harris and former President Donald Trump. Despite strong performance compared to global markets, the U.S. economy faces scrutiny due to high living costs.

Economists anticipate that payrolls increased by 113,000 jobs in October, a slowdown from September's surge. Factors like Hurricane Helene and Milton, along with significant worker strikes, contributed to this deceleration. However, the labor market's robustness is still evident, with experts forecasting an imminent rebound and continued resilience.

(With inputs from agencies.)