Jobs report preview: Behold, the GM effect

Mitchell Hartman Oct 31, 2019
HTML EMBED:
COPY
Members of United Auto Workers picket outside of General Motors Detroit-Hamtramck Assembly during the strike on Oct. 16. Jeff Kowalsky/AFP via Getty Images

Jobs report preview: Behold, the GM effect

Mitchell Hartman Oct 31, 2019
Members of United Auto Workers picket outside of General Motors Detroit-Hamtramck Assembly during the strike on Oct. 16. Jeff Kowalsky/AFP via Getty Images
HTML EMBED:
COPY

Economists are predicting that the Labor Department’s monthly jobs report out on Friday will show that job creation fell below 100,000 in October. Job creation was reported at 136,000 in September and has averaged 157,000 per month since July. According to an advisory from the Bureau of Labor Statistics, October’s payroll number will be depressed by about 46,000 because of workers who were temporarily off payrolls during the six-week United Auto Workers strike against General Motors that ended Oct. 25.

Click the audio player above to hear the full story.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.