by Calculated Risk on 10/27/2024 10:15:00 AM

Employment in October will be negatively impacted by Hurricane Milton and the Boeing strike.

Here is the CES Strike report for October released on Friday.

This shows a total of 44,000 workers on strike in October.

The impact of Hurricane Milton is less clear.  Fed Governor Waller recently commented: 

[U]nfortunately, it won't be easy to interpret the October jobs report to be released just before the next FOMC meeting. This report will most likely show a significant but temporary loss of jobs from the two recent hurricanes and the strike at Boeing. I expect these factors may reduce employment growth by more than 100,000 this month, and there may be a small effect on the unemployment rate, but I'm not sure it will be that visible.