Dollar dips after US job growth slows sharply in October
8:48 am Friday, November 01st, 2024
NEW YORK (Reuters) – The dollar erased early gains to trade lower against the euro on Friday after data showed U.S. job growth slowed sharply in October amid disruptions from hurricanes and strikes by aerospace factory workers.
Nonfarm payrolls increased by 12,000 jobs last month after surging by a downwardly revised 223,000 in September, the Labor Department’s Bureau of Labor Statistics said on Friday. Economists polled by Reuters had forecast payrolls rising 113,000.
The euro, hit a more than two-week high against the dollar and was last trading up 0.12% at $1.0897. The dollar index, which tracks the greenback against six major currencies, was down 0.14% at 103.72.
(Reporting by Saqib Iqbal Ahmed; editing by Philippa Fletcher)
