Job cuts surge in October: strikes, layoffs, small business closures up sharply; DISASTROUS jobs report – Only 12K jobs added; last two months revised down by 112K.

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Job growth evaporated in Oct, partially due to hurricanes and strikes, but good chance labor recovery is done; private payrolls fell 28k; note household survey’s employment level also fell hard (-368k), even though it counts many of those affected by hurricanes as still employed:


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