US employers pulled back on hiring in October, adding 150,000 jobs in face of higher borrowing rates ...Middle East

WASHINGTON (AP) — The nation’s employers slowed their hiring in October, adding a modest but still decent 150,000 jobs, a sign that the labor market may be cooling but remains resilient despite high interest rates that have made borrowing much costlier for companies and consumers. Last month’s job growth, though down sharply from a robust 297,000 gain in September, was solid enough to suggest that many companies still want to hire and that the economy remains sturdy. And job growth would have been higher in October if not for the now-settled United Auto Workers’ strikes. The strikes ended this week with tentative settlements in which against Detroit’s automakers granted significantly better

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Last updated : 04 Nov 2023 clock 03:48 AM

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US employers pulled back on hiring in October, adding 150,000 jobs in face of higher borrowing rates ...Middle East

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