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Employment data from October; Unemployment rate; Blows, the impact of storms; and what to expect this time
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Employment data from October; Unemployment rate; Blows, the impact of storms; and what to expect this time

Here’s how October’s jobs data turned out as two hurricanes hit employment.

Payment institutions: Raised with 12,000 jobs in October, versus the 112,500 economists expected and the revised 223,000 in September

Unemployment rate: 4.1%flat from September, as expected

Storm effects: Not only did hurricanes disrupt business, they affected the process of data collection for employment statistics

Lower earnings in recent months: Job gains for both August and September were reviewed belowfor a combined reduction of 112,000 jobs

Market reaction: Stocks are taller. Interest rate futures now reflect a slim chance of a half-percentage-point cut, rather than the quarter-point move that is generally expected.