In October, the United Auto Workers went on strike against Detroit’s automakers, which led to a decrease in job growth. However, most other sectors saw solid job gains during this period.
Despite the decline in job gains, the U.S. economy added 150,000 jobs in October, indicating that many companies are still hiring.
Average hourly pay increased slightly in October, and there has been a 4.1% rise in average hourly earnings over the past 12 months. Nevertheless, wage gains have been slowing down.