US Jobs - 2024-10-31

The BLS coyly demurs to estimate the storm impacts that might have led to a mere 12,000 net payrolls. But the Household Survey, which they say went off without a hitch, says 512,000 people are out of work due to weather. In a typical October that's 52,000. The inescapable conclusion is that 461,000 are unemployed thanks to Milton and Helene. This report might be a blockbuster in disguise.