Job Creation Deceleration: The U.S. economy experienced a slowdown in job creation during October 

Nonfarm Payrolls: Nonfarm payrolls increased by 150,000, falling short of the Dow Jones consensus forecast of 170,000 

United Auto Workers Strikes: Job losses in the manufacturing industry were primarily attributed to the United Auto Workers strikes, creating a gap in job expectations 

Rising Unemployment Rate: The unemployment rate rose to 3.9%, marking the highest level since January 2022, contrary to expectations of it remaining at 3.8% 

Household Survey: Employment, as measured in the household survey used to compute the unemployment rate, saw a decline of 348,000 workers, while the number of unemployed individuals increased by 146,000 

Broader Jobless Rate: A more comprehensive jobless rate, including discouraged workers and those in part-time positions for economic reasons, increased to 7.2%, up by 0.2 percentage points 

Labor Force Participation: The labor force participation rate slightly declined to 62.7%, with a contraction of 201,000 in the labor force 

Average Hourly Earnings: Average hourly earnings, a key measure for inflation, increased by 0.2% for the month, slightly below the 0.3% forecast 

Federal Reserve's Response: The Federal Reserve uses wage data as part of its inflation monitoring, and the latest job data reduced the probability of an interest rate hike in December to just 10% 

Sector-Specific Job Trends: Health care led in job creation with 58,000 new jobs, followed by government (51,000), construction (23,000), and social assistance (19,000