U.S. hiring slowed significantly last month, marking the weakest job growth recorded under President Joe Biden.

Friday’s downbeat jobs report, released just days before the U.S. election, found that just 12,000 nonfarm jobs were created in October, down from 223,000 a month earlier.

This is the slowest growth rate since late 2020, according to the Bureau of Labor Statistics, with analysts attributing the impact of hurricanes and strike at Boeing.

As hiring slows, The unemployment rate in the United States remained unchanged at 4.1%.

This closely watched report is sure to attract the attention of both presidential candidates ahead of next Thursday’s election, as will Kamala Harris and Donald Trump. battle to convince voters of their ability to improve the economy.

Rubeela Farooqi, an economist at High Frequency Economics, said the slowdown in hiring “will likely weigh on how people view the economic situation.”

The latest figures show the slowest rate of job growth in the United States since President Biden took office in early January 2021.

In response to the report, President Biden said hiring is expected to rebound in November as the nation’s post-hurricane rebuilding efforts continue.

He said: “The U.S. economy remains strong, with 16 million jobs created since I took office, including an average of 180,000 jobs created each month over the last year, more than the year before the pandemic. »

However, Sarah House, senior economist at Wells Fargo, said the latest numbers show how the U.S. labor market is “still struggling to find its footing.”

These figures come after Hurricane Helen left 220 dead and millions without power in late September, followed by Hurricane Milton in Florida a week later.

Meanwhile, a total of 41,400 new U.S. workers went on strike last month while the survey was conducted.

That included walkouts at Boeing, where union officials are demanding a record 40% pay increase for the aircraft maker’s 32,000 employees.

Jared Bernstein, president of the Council of Economic Advisers, said earlier this week that the collective impact of hurricanes and strikes could reduce job growth by up to 100,000 positions.

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