English
Back
Download
Log in to access Online Inquiry
Back to the Top

Nonfarm Payrolls in One Chart: Employment Sees Significant Drop, Missing October Forecasts

avatar
In One Chart wrote a column · Nov 1, 2024 21:13
In October 2024, the US economy saw the addition of only 12,000 jobs, a sharp decline from the 223,000 jobs added in September, which itself was a downward revision. This figure was also significantly below the anticipated 113,000 jobs, marking the lowest growth since December 2020.
Nonfarm Payrolls in One Chart: Employment Sees Significant Drop, Missing October Forecasts
Additionally, hurricanes may have impacted job numbers in certain industries, although the Bureau of Labor Statistics was unable to determine their overall effect. This October's job increase was well below the average monthly gain of 194,000 seen over the previous year.
Despite the overall downturn, some sectors still reported job growth; health care added 52,000 jobs, and government roles increased by 40,000.
On the other hand, temporary help services saw a reduction of 49,000 jobs, and manufacturing employment dropped by 46,000 jobs. This decline in manufacturing was heavily influenced by a 44,000 job decrease in transportation equipment manufacturing, largely attributed to the Boeing strike.
Revisions for August and September's employment figures further revealed a combined reduction of 112,000 jobs compared to earlier reports.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
60
7
3
2
+0
27
Translate
Report
78K Views
Comment
Sign in to post a comment

View more comments...

avatar
In One Chart
Moomoo News Official Account
Market news in one chart.
90K
Followers
10
Following
31K
Visitors
Follow

Market Insights

Warren Buffett Portfolio Warren Buffett Portfolio

Buffett's holdings are the latest portfolio from Berkshire Hathaway. Regarded as a top investor, his trades often signal the market and influence the industry. Buffett's holdings are the latest portfolio from Berkshire Hathaway. Regarded as a top investor, his trades often signal the market and influence the industry.

No. Symbol 5D % Chg
Sample Name
Sample Code
 +12.26%
Sample Name
Sample Code
 +10.59%
Sample Name
Sample Code
 +10.23%
4
Amazon
AMZN
+9.49%
5
Jefferies Financial
JEF
+9.24%
Unlock Now

Discussing

Gold price hits new high! Safe havens in a turbulent market?
🎙️Discussion 1. The spot gold price climbed to an all-time high, with numerous institutions raising their gold price forecasts, how do you Show More
Dont Get Smoked!

Monetary Policy: Navigating the Fed's Rate Cut Cycle

Changing Fed policy is altering the market math for investors.

Reassessing Chinese Assets

Following the introduction of China's groundbreaking DeepSeek technology, Wall Street giants have revised their investment outlooks for the Chinese market.

- No more -