Job growth in the US slowed dramatically last month, with the world’s largest economy adding just 12,000 positions in October.
Friday’s jobs report marks the weakest of Biden’s presidency, severely underperforming economists’ expectations of a 100,000 gain, according to the Wall Street Journal.
The unrounded unemployment rate did nudge higher, to 4.14% from 4.05% in September.
September’s gains of 254,000 jobs were revised lower to 223,000; and August’s weaker-than-expected job growth plunged by 81,000 to land at a mild 78,000-job gain.
So we added 12,000 jobs in October, and revised the previous 2 fictitious months reports down by 112,000. Net gain a negative 100,000. That's Bidenomics.....