Daily Bread for 11.3.23: National Hiring Slows but Remains Solid

 Good morning.

Friday in Whitewater will be cloudy with a high of 52. Sunrise is 7:32 and sunset 5:44 for 10h 12m 00s of daytime. The moon is a waning gibbous with 66.9% of its visible disk illuminated.

  On this day in 2014, One World Trade Center officially opens in New York City, replacing the Twin Towers after they were destroyed during the September 11 attacks.

By King of Hearts – Own work, CC BY-SA 4.0,

Lauren Kaori Gurley and Abha Bhattarai report U.S. economy adds 150,000 jobs in October, slower but solid growth (‘The unemployment rate rose to 3.9 percent. Tempered job growth reflected the UAW strikes against the Big Three auto companies’):

This year, the labor market has been undergoing a notable cool-down, across many sectors, from its red hot peak after the pandemic when employers rapidly created millions of jobs to keep up with pent-up consumer demand.

October’s job gains mark the second lowest increase since 2020, and jobs figures for August and September were revised down by 101,000. Wage growth moderated slightly in October, rising by 4.1 percent over the previous 12 months to $34.00 an hour.

“This is still one of the best labor markets for workers that we’ve seen relative to the last 30 years,” said Justin Bloesch, a professor of economics at Cornell University. “But it is definitely less hot than it was last year.”

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