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PBS News Hour - Segments

News Wrap: Labor Department releases final jobs report before election

PBS News Hour - Segments

PBS NewsHour

Daily News, News

4.11K Ratings

🗓️ 1 November 2024

⏱️ 4 minutes

🧾️ Download transcript

Summary

In our news wrap Friday, the Labor Department released its final jobs report before the election, the death toll from flooding in Spain spiked to at 205 with many still missing, New Delhi's air quality plummeted as smoke from firecrackers used to celebrate Diwali polluted the air and a judge rejected Elon Musk's bid to move a Pennsylvania lawsuit over his election giveaways to a federal court. PBS News is supported by - https://www.pbs.org/newshour/about/funders

Transcript

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0:00.0

And we start today's other headlines with the state of the U.S. labor market. The nation saw much slower job growth last month and the final such report before next week's election. The Labor Department's monthly tally shows that the U.S. economy added just 12,000 jobs in October. That's down sharply from the 223,000 new jobs we saw a month earlier.

0:22.1

Economists say the impact of recent hurricanes and corporate strikes are at least partly to blame.

0:27.9

The unemployment rate, meantime, remained unchanged at 4.1%.

0:32.7

Speaking in Philadelphia this afternoon, President Biden told union workers the economy

0:37.8

remained strong thanks in part to them.

0:40.3

I'm proud to be listed as the most pro-union president of American industry.

0:45.3

The middle class is gone.

0:47.3

The middle class is growing.

0:49.3

They're the best economy in the world right now because he is. Looking forward, the U.S. Federal Reserve is expected to cut interest rates for a second time next week,

0:59.9

as inflation has cooled dramatically since its recent peak in 2022.

1:04.6

That comes even as consumers and voters remain frustrated by the nation's high prices.

1:10.0

In Spain, the death toll from this week's

1:12.2

flooding has spiked to at least 205, with many more still missing. It's one of Europe's worst

1:18.2

disasters in decades and the deadliest in living memory in Spain. In parts of Valencia in the

1:24.2

country's east, more than a year's worth of rain fell in less than eight hours on Tuesday.

1:29.8

The floodwaters that followed piled up cars and smashed infrastructure.

1:34.7

Volunteers are working to help those affected, but for residents, the impact of the flooding will be lasting.

1:42.7

There are a lot of dead people. And what do you want me to say? No matter how much help

1:51.8

we get, it is not enough. We need much more help, and no matter how much help comes, this

1:56.8

is not going to be fixed in a month or two. We need a lot because it has done a lot of harm.

2:02.1

And the harm is going to be fixed, but the people who have left won't come back.

2:06.9

Authorities have rescued more than 4,500 people trapped by the flood so far.

...

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