Nov 1, 2019

October jobs report surprises with 128,000 jobs added

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Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. economy added 128,000 jobs in October — more than the 75,000 economists expected — while the unemployment rate ticked higher to 3.6%, the government said on Friday.

Why it matters: The strong numbers come despite job growth held down by the 40-day United Auto Workers strike against General Motors, which has since ended.

By the numbers: The strike shaved 46,000 jobs from October's report. The strikers' return to work will be reflected in November's report.

  • The federal government shed 17,000 jobs last month as "temporary workers who had been preparing for the 2020 Census completed their work," per the Labor Department's release.
  • Job growth in previous months was better than initially thought. A combined 95,000 more jobs than previously estimated were added in August and September.

The bottom line: The October jobs report had a low hurdle to clear, given the downbeat estimates around employment. Still, the report is strong enough to ward off fears of a broad-based slowdown.

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Protests over the death of George Floyd and other police-related killings of black men spread across the U.S. Saturday, amid tense standoffs with police in several cities.

The big picture: Floyd's fatal run-in with police is the latest reminder of the disparities between black and white communities in the U.S. and comes as African Americans grapple with higher death rates from the coronavirus and higher unemployment from trying to stem its spread.

U.S. cities crack down on protests against police brutality

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Major U.S. cities have implemented curfews and called on National Guard to mobilize as thousands of demonstrators gather across the nation to continue protesting the death of George Floyd.

The state of play: Hundreds have already been arrested as tensions continue to rise between protesters and local governments. Protesters are setting police cars on fire as freeways remain blocked and windows are shattered, per the Washington Post. Law enforcement officials are using tear gas and rubber bullets to try to disperse crowds and send protesters home.

Trump to invite Russia and other non-member G7 countries to summit

President Trump at Cape Canaveral, Florida, on Saturday. Photo: Saul Martinez/Getty Images

President Trump told reporters on Saturday evening he would postpone the G7 summit to September and expand the meeting to more nations that are not members of the Group of 7.

Details: Trump said he would invite Russia, South Korea, Australia and India to the summit, according to a pool report. "I don’t feel that as a G7 it properly represents what’s going on in the world. It’s a very outdated group of countries," he said.