Womp Womp

The U.S. added only 12,000 jobs in October.

The Bureau of Labor Statistics (BLS) reported the disappointing figure––which is down significantly from September’s 223,000 jobs and well below the expected 100,000––on Friday. The agency said the numbers were dragged down by Hurricanes Helene and Milton as well as the ongoing strike at Boeing, which removed 44,000 from the manufacturing sector.

Unemployment held steady at 4.1% and wages grew at 4% over the last year, in line with expectations.

The stock market largely ignored the report, but investors are bracing for a big week ahead with the election (it’s tomorrow, btw) and the Federal Reserve meeting on Thursday. The Fed is widely expected to cut interest rates by 0.25 percentage points.

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BE DOERS
Regardless of whether the broader economy is struggling or thriving, Christians should seek to give generously of our time, talents, and resources to those in greater need. Reach out to your local church to see where help is needed.

“Don’t neglect to do what is good and to share, for God is pleased with such sacrifices.” Hebrews 13:16 (CSB) (read full passage)