The U.S. economy shed 105,000 jobs in October and gained 64,000 jobs in November, the Bureau of Labor Statistics reported on Tuesday. The unemployment rate climbed to a four-year peak of 4.6% last month.
- Nearly all economic reports from the Bureau of Labor Statistics and the Census Bureau were postponed due to the historically prolonged federal shutdown, which hampered data collection.
- The October report marked the first time in nearly eight decades that the monthly survey did not include the jobless rate.
- The Census Bureau also stated that retail sales in October remained flat—the lowest result in five months.
About the Author
