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The October employment report showed that only 12,000 jobs were created that month.
Employment figures for August and September were also revised downward.
Job creation slowed to its weakest pace since the end of 2020 in October, as the impact of storms in the Southeast and a major labor stalemate hit the employment situation.
Nonfarm payrolls increased by 12,000 jobs in the month, a sharp drop from September and below the Dow Jones forecast of 100,000 jobs, the Bureau of Labor Statistics said Friday. Already expected to be a pessimistic report, October recorded the smallest increase since December 2020.
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The weak October report also included a significant downward revision from the previous month. The number of people increased by only 78,000 in August, and the initial forecast for September was 223,000. In total, the net revisions reduced the previously reported total job creation by 112,000 jobs.
President Trump responded, saying, “The Harris-Biden administration has failed the expectations of the American people!''
October employment report—Harris-Biden administration has disappointed the American people!
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