U.S. job growth hits 4-year low..."Employment shock" just around the corner of the presidential election

With the U.S. presidential election just around the corner, job growth is at its lowest level in four years due to hurricanes and strikes, marking a "employment shock."

Nonfarm jobs increased by 12,000 in October from the previous month, far below the 110,000 expert forecast.

That's the lowest figure in nearly four years since December 2020, when COVID was in full swing, and well below the average job growth of 194,000 jobs this year.

Experts say the impact of hurlin and Milton, which hit the southeastern U.S., shuttered factories and construction sites and caused 44,000 jobs to be lost due to Boeing's strike.

However, the unemployment rate was 4.1% in October, the same as the previous month and also in line with expert expectations.

The average hourly wage growth rate was 0.4% higher than the previous month, above the 0.3% forecast, and the year-on-year increase was 4%, the same as the forecast.