Employers Pull Back On Hiring In October; Add 150K Jobs

WASHINGTON (AP) — The nation’s employers scaled back their hiring in October, adding a modest but still decent 150,000 jobs, a sign that the labor market remains resilient despite economic uncertainties and high interest rates that have made borrowing much costlier for companies and consumers. Last month’s job growth, though down sharply from a robust 297,000 gain in September, was solid enough to suggest that many companies still want to hire and that the economy remains sturdy. The United Auto Workers’ strikes against Detroit’s automakers likely shrank October’s job gain by at least 30,000, economists say. The strikes ended this week with tentative settlements in which the companies granted significantly better pay and benefits to the union’s workers.