Key Points
Nonfarm payrolls increased by 150,000 jobs last month, the Labor Department's Bureau of Labor Statistics (BLS) said in its closely watched employment report on Friday..
Data for September was revised lower to show 297,000 jobs created instead of 336,000 as previously reported.APA shot from the UAW strike..
U.S. job growth slowed more than expected in October in part as strikes by the United Auto Workers (UAW) union against Detroit's "Big Three" car makers depressed manufacturing payrolls, while wage inflation cooled, pointing to an easing in labor market conditions...
Though wage pressures are easing because of the expanding labor pool and fewer people changing jobs, the annual growth in average hourly earnings remains above the 3.5% that economists say is consistent with the Fed's 2% target...
Wages have not been the main driver of inflation, but some economists worry that recent hefty contracts, including the ones scored by the UAW, airline pilots and the union representing UPS workers, could complicate the Fed's fight against inflation...
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