US economy: 12,000 jobs added in October, as monthly report falls below expectations [Video]

WASHINGTON (WTVD) — Employers added 12,000 jobs in October, a figure which fell well-short of analyst expectations.

“The expectation was about 100,000 new jobs and that expectation took into account the impact of Hurricane (Helene and Milton), plus the Boeing strike. So this definitely came below expectations. It is a surprise to the downside. The good news is that it’s positive,” said Cam Harvey, a Professor of Finance at the Duke Fuqua School of Business.

“We are seeing job growth at a slower pace, but to an economist that’s to be expected. We’ve had a growing economy really since the mid part of 2020 when the pandemic began to recede,” said Dr. Mike Walden, an economist and Professor Emeritus at NC State.

Further, the report included a downward revision of the August and September jobs report of 112,000 jobs.

“The hope is that that softening does not lead to negative growth and a large increase in the …