Hurricanes, strikes seen denting US job growth as Americans prepare to vote
WASHINGTON - U.S. job growth likely slowed sharply in October amid disruptions from hurricanes and strikes by aerospace factory workers, but a steady unemployment rate should offer assurance that the labor market remained on solid footing ahead of Tuesday's election.
Nonfarm payrolls likely increased by 113,000 jobs last month after surging 254,000 in September, a Reuters survey of economists showed. Estimates ranged from no jobs added to 200,000 positions created. October's anticipated payrolls count would be the smallest in six months. The Labor Department reported last week that there were 41,400 new workers on strike, including 33,000 machinists at Boeing , an aircraft company, when employers were surveyed for October's employment report. The remaining 3,400 were workers at three hotel chains in California and Hawaii.
Indeed, first-time applications for unemployment benefits have dropped to five-month lows, reversing the jump seen in the wake of the hurricanes, signaling a rebound in payrolls in November was likely.
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