Will this mean anything in the election? And an even better question: does it really mean anything in this economy?
Job creation laid an egg in October, with the lowest additions in almost four years — and that was in the middle of the pandemic. According to the Bureau of Labor Statistics, the US economy added only 12,000 jobs last month — but the unemployment rate held steady at 4.1%:
Total nonfarm payroll employment was essentially unchanged in October (+12,000), and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in health care and government. Temporary help services lost jobs. Employment declined in manufacturing due to strike activity.
Does the strike explain the low figure? Only to a point. Manufacturing took a big hit, but not that big of a hit, from Boeing and…
