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The U.S. labor market is expected to remain strong but show more signs of slower growth in October, continuing a year-long softening trend that has gradually brought job hiring to pre-pandemic levels.
Economists predict that the economy churned out around 170,000 jobs in October, down from 336,000 in September. That would mark one of the smallest gains since 2020.
“This is still one of the best labor markets for workers that we’ve seen relative to the last 30 years,” said Justin Bloesch, a professor of economics at Cornell University. “But it is definitely less hot than it was last year.”
The wave of heightened strikes across the United States, which included 45,000 autoworkers on strike in October, is also expected to appear in the October report. Although in the long term, the autoworkers’ new contract is likely to…
