The U.S. labor market added only 12,000 jobs in October, significantly below economists' expectations of approximately 113,000, with the unemployment rate remaining steady at 4.1%. This sharp decline in job creation was attributed to the impacts of Hurricanes Helene and Milton, which are estimated to have reduced employment by around 70,000 jobs, alongside ongoing strikes at Boeing and other companies. September's job gains were also revised downward from 254,000 to 223,000, reflecting broader economic challenges. Despite the weak job numbers, wage growth increased to 4.1% year-over-year, indicating persistent inflation pressures. The report arrives just ahead of the U.S. presidential election and the Federal Reserve's policy meeting, where a rate cut is highly anticipated due to slowing job growth and easing inflation. However, the uncertain effects of recent weather events and strikes complicate the Fed's assessment of the labor market's health.