U.S. Employers Add Just 12,000 Jobs in October: Unemployment Rate Holds at 4.1 Percent
The U.S. Bureau of Labor Statistics reported in Washington on November 1 (release USDL-24-2233) that total nonfarm payroll employment was essentially unchanged in October 2024, rising by just 12,000, well below the average monthly gain of 194,000 over the prior 12 months. The unemployment rate was unchanged at 4.1 percent, with the number of unemployed little changed at 7.0 million. Health care added 52,000 jobs in October and government added 40,000. Earlier figures were revised down: August by 81,000 to 78,000 and September by 31,000 to 223,000, leaving the two months combined 112,000 lower than previously reported.
President Joe Biden said in a statement the same day that while unemployment was unchanged in October, the devastation from Hurricanes Helene and Milton and new strike activity had lowered job growth, and that job growth was expected to rebound in November as hurricane recovery and rebuilding continued. He also congratulated the leadership of the Machinists union and Boeing for negotiating a new contract proposal to be voted on by union members, saying Boeing machinists had sacrificed over the years and deserved a strong contract.
Biden's statement cited his administration's record: 16 million jobs created since he took office, an average of 180,000 jobs a month over the last year, the lowest average unemployment rate of any administration in 50 years, incomes up $4,000 over prices, and inflation down nearly to its 2 percent target. The report landed four days before the November 5 presidential election.
Source: U.S. Bureau of Labor Statistics
Published by GSM · USA (original Chinese edition)
Photo: 图：位于华盛顿的美国劳工部总部弗朗西斯·珀金斯大楼全景。ajay_suresh 摄，CC BY 2.0，经 Wikimedia Commons（GSM 联邦固定图库）。 / Photo: The Frances Perkins Building, headquarters of the U.S. Department of Labor in Washington. Photo by ajay_suresh, CC BY 2.0, via Wikimedia Commons (GSM fixed federal image library).
