US economy 'finally showing signs of cracks' with lacklustre October jobs numbers

150,000 new jobs

The US economy is has ended its run of strong employment results as growth slumps throughout October.

Total nonfarm payroll employment increased by 150,000 in October, below the forecasted 190,000, the Bureau of Labor Statistics revealed today (3 November). The unemployment rate ticked up from 3.8% in September to 3.9%, up by 0.5 percentage points from its low point in April. Bank of England meets expectations by holding rates at 5.25% Seema Shah, chief global strategist at Principal Asset Management, said that the report suggested that the job market was finally slowing. "While some may be concerned that the economy is slowing, markets will no doubt celebrate the fact that a we...