Slowing U.S. Job Growth in October with Stable Unemployment Rate
The U.S. labor market data for October revealed mixed employment indicators,
with the economy adding only 12,000 new jobs, significantly below the expectations of 113,000.
Content:
Jobs:
The September report initially showed 254,000 jobs added, but this was revised down to 223,000.
The unemployment rate remained steady at 4.1% in October, aligning with market expectations and the previous reading for September.
On the wage front, the average hourly wage increased by 0.4% on a monthly basis, surpassing the expected 0.3%, while wages grew 4.0% annually, in line with forecasts.
Boeing:
Boeing raises $23.5 billion in a massive deal that brings substantial profits for banks ahead of the U.S. elections.
The $20 billion capital increase carried out by Boeing delivered significant gains to four major banks—Goldman Sachs, Bank of America, Citigroup, and JPMorgan Chase—with each bank expected to earn up to $75 million for their roles as joint lead arrangers in the deal, according to Boeing’s filings with the U.S. Securities and Exchange Commission.
This week, Boeing raised approximately $23.5 billion through one of the largest equity sales ever made by a public company, aiming to strengthen its balance sheet and avoid a potential downgrade to junk credit status. The capital raise included the sale of nearly $18.5 billion in common stock, along with $5 billion in depositary shares representing stakes in mandatory convertible preferred stock.
Slowing U.S. Job Growth in October with Stable Unemployment Rate