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    • Job growth likely eased last month. Why is it not a concern.
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    Job growth likely eased last month. Why is it not a concern.

    Online Niel Posted on

    Job growth likely cooled significantly in October due to the effects of two devastating hurricanes and labor strikes during the month. However, the Federal Reserve is expected to cut interest rates by a quarter of a percentage point at its next policy meeting on November 6-7, despite less clarity on the labor market.

    The Bureau of Labor Statistics is due to release October employment and unemployment at 8:30 a.m. ET on Friday, Nov. 1, just four days before Election Day and less than a week before the Federal Open Market Committee meets.

    Economists polled by FactSet expected nonfarm payrolls to have risen by just 90,000 in October, down from an initial estimate of 254,000 jobs added in September. The storms and strikes could create as much as a 100,000 cut in wage earnings.

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