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U.S. adds 150,000 jobs in October, less than expected By Investing.com

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AuthorScott KanowskyEconomic Indicators19&nbsp;SCHW+2.89%Add to WatchlistAdd PositionPosition added successfully to:&nbsp;+ Add another positionCloseUS10Y...-2.91%Add to WatchlistAdd PositionPosition added successfully to:&nbsp;+ Add another positionCloseInvesting.com --&nbsp;U.S. job growth slowed sharply in October, possibly boosting expectations that the Federal Reserve may hold off on any further interest rate hikes this year.The closely-watched from the Labor Department's Bureau of Labor Statistics (BLS) showed that employers in the world's largest economy added 150,000 jobs during the month, easing from a downwardly revised figure of 297,000 in September. Economists had expected a reading of 180,000.&nbsp;The August total was also revised lower by 62,000, from 227,000 to 165,000.Job gains occurred in health care, government and social assistance, helping offset a decline in the manufacturing sector that was due in part to a series of strikes by auto workers, the BLS said in a statement.Meanwhile, the came in at 3.9%, up from 3.8% in the prior month, and increased by 0.2% month-on-month in October, following a 0.3% gain in September.Fed officials will likely be monitoring the job numbers carefully, as they may provide insight into whether the U.S. central bank's unprecedented run of policy tightening is causing economic activity to cool."[A] good jobs report from [the] Fed's point of view," wrote Kathy Jones, (NYSE:) Chief Fixed Income Strategist, on X, formerly known as Twitter. "Nonfarm payrolls comes in a bit light, downward revisions to previous 2 months and wage growth on the low end. Good for bond market."The benchmark , which typically moves inversely to prices, fell by more than 10 basis points on the day in the wake of the data. Stock futures on Wall Street climbed.Following a two-day meeting earlier this week, the Federal Open Market Committee voted to keep the key Fed funds rate steady at a target of 5.25% to 5.50%. This range, which stood at near zero in March last year, is at its highest level in more than two decades.However, recent data has pointed to continued robustness in the U.S. economy. advanced at a faster-than-anticipated clip in the 12 months through September, while in the third quarter also outpaced estimates.Speaking at a news conference on Wednesday following the decision, Fed Chair Jerome Powell left open the possibility for additional policy tightening, but stressed that officials will proceed carefully in response to a host of uncertainties facing the U.S. economy.Markets are already widely betting that the Fed will choose to keep borrowing costs steady at its next meeting in December, with much of the debate now swirling around how long it will maintain rates at their current elevated levels.U.S. adds 150,000 jobs in October, less than expected19Comments (19)19Add a CommentComment Guidelines&nbsp;I have read Investing.com's comments guidelines and agree to the terms described.I AgreeWrite your thoughts hereAre you sure you want to delete this chart?Delete Cancel&nbsp;PostReplace the attached chart with a new chart ?Replace CancelComment GuidelinesShareFollow this postUnfollow this postSaveBlock UserReplyShareFollow this postUnfollow this postSaveBlock UserReplyShareFollow this postUnfollow this postSaveBlock UserReplyShareFollow this postUnfollow this postSaveBlock UserReplyShareFollow this postUnfollow this postSaveBlock UserReplyShareFollow this postUnfollow this postSaveBlock UserReplyShareFollow this postUnfollow this postSaveBlock UserReplyShareFollow this postUnfollow this postSaveBlock UserReplyShareFollow this postUnfollow this postSaveBlock UserReplyShareFollow this postUnfollow this postSaveBlock UserReplyShareFollow this postUnfollow this postSaveBlock UserReplyShareFollow this postUnfollow this postSaveBlock UserReplyShareFollow this postUnfollow this postSaveBlock UserReplyShareFollow this postUnfollow this postSaveBlock UserReplyShareFollow this postUnfollow this postSaveBlock UserReplyAre you sure you want to delete this chart?Delete Cancel&nbsp;PostReplace the attached chart with a new chart ?Replace CancelComment GuidelinesAdd Chart to CommentCancelAttachConfirm BlockAre you sure you want to block %USER_NAME%?By doing so, you and %USER_NAME% will not be able to seeany of each other's Investing.com's posts.%USER_NAME% was successfully added to your Block ListSince you’ve just unblocked this person, you must wait 48 hours before renewing the block.Confirm Block CancelOkReport this commentI feel that this comment is:SpamOffensiveSubmitComment flaggedThank You!Your report has been sent to our moderators for reviewCloseTabs SelectionIndicesCommoditiesBondsStocksCryptoForexETFsApply&nbsp;US 3034,007.2+168.1+0.50%&nbsp;&nbsp;US 5004,353.1+35.3+0.82%&nbsp;&nbsp;Dow Jones34,008.85+169.77+0.50%&nbsp;&nbsp;S&amp;P 5004,353.30+35.52+0.82%&nbsp;&nbsp;Nasdaq13,409.90+115.71+0.87%&nbsp;&nbsp;S&amp;P 500 VIX15.23-0.43-2.75%&nbsp;&nbsp;Dollar Index105.144-0.833-0.79%&nbsp;&nbsp;Crude Oil WTI82.16-0.30-0.36%&nbsp;&nbsp;Brent Oil86.48-0.37-0.43%&nbsp;&nbsp;Natural Gas3.518+0.046+1.32%&nbsp;&nbsp;Gold2,003.45+9.95+0.50%&nbsp;&nbsp;Silver23.312+0.466+2.04%&nbsp;&nbsp;Copper3.6922+0.0197+0.54%&nbsp;&nbsp;US Soybeans1,349.12+20.12+1.51%&nbsp;&nbsp;U.S. 10Y4.534-0.136-2.91%&nbsp;&nbsp;U.S. 30Y4.703-0.118-2.45%&nbsp;&nbsp;U.S. 5Y4.481-0.155-3.35%&nbsp;&nbsp;U.S. 3M5.422-0.018-0.34%&nbsp;&nbsp;US 10Y T-Note108.48+1.00+0.93%&nbsp;&nbsp;Euro Bund130.53+0.56+0.43%&nbsp;&nbsp;10-2 Yield Spread-21.580.000.00%&nbsp;&nbsp;Apple175.02-2.55-1.44%&nbsp;&nbsp;Alphabet A128.13+0.64+0.50%&nbsp;&nbsp;Tesla223.88+5.37+2.46%&nbsp;&nbsp;Amazon.com138.24+0.17+0.12%&nbsp;&nbsp;Netflix427.80+3.09+0.73%&nbsp;&nbsp;Meta Platforms312.29+1.42+0.46%&nbsp;&nbsp;Bank of America28.50+0.88+3.19%&nbsp;Most Popular ArticlesU.S. adds 150,000 jobs in October, less than expectedApple falls as soft holiday quarter outlook outweighs earnings beat;...Payrolls report ahead, Apple earnings - what's moving marketsU.S. stocks are rising as weaker jobs report fuels hopes for interest...Stock Market Today: Dow ends higher as Treasury yields dive; jobs...More News&nbsp;Fed to Deliver Second Consecutive 'Hawkish Pause': Will the Market Buy...Bitcoin Bulls Look to Hold Key Support Ahead of NFPs: How to Trade the...Gold: Back to $1,800s if US Yields Don’t Back Off?Be Careful: Job and Retail Sales Data Are Always Good Until They...15 Stocks to Buy as ‘Hawkish’ Fed Keeps Door Open for Future HikesMore Analysis&nbsp;Sign up with Email

AuthorScott KanowskyEconomic Indicators19&nbsp;SCHW+2.89%Add to WatchlistAdd PositionPosition added successfully to:&nbsp;+ Add another positionCloseUS10Y...-2.91%Add to WatchlistAdd PositionPosition added successfully to:&nbsp;+ Add another positionCloseInvesting.com --&nbsp;U.S. job growth slowed sharply in October, possibly boosting expectations that the Federal Reserve may hold off on any further interest rate hikes this year.The closely-watched from the Labor Department's Bureau of Labor Statistics (BLS) showed that employers in the world's largest economy added 150,000 jobs during the...

U.S. adds 150,000 jobs in October, less than expected By Investing.com

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