U.S. employers added 150,000 jobs last month, according to data released today. The number was lower than experts had projected, and it signaled a cooling in the economy, but it remained not far off from the monthly job growth that the U.S. was experiencing before the pandemic.
The unemployment rate ticked up to 3.9 percent from 3.8 percent in September. In addition, the previous two jobs reports were revised downward by a total of more than 100,000.
“This is mildly concerning but for now, these are still strong numbers,” said Sonu Varghese, a market strategist at Carson Group. “I think this is still just normalization.”
The October numbers may have been held down because the survey was taken during major work stoppages, notably the strikes by the United Automobile Workers and related layoffs. The signs of recent cooling reinforced expectations that the Federal Reserve would hold off on further interest rate increases.
Some investors and analysts reacted positively to the jobs report. The S&P 500, which had sold off in recent months, ended the week almost 6 percent higher, recording its best week of the year.
Netanyahu said no cease-fire without hostage releases
Prime Minister Benjamin Netanyahu of Israel appeared today to rebuff the Biden administration’s call for a series of “humanitarian pauses” to allow more deliveries of aid into Gaza. He said that any cease-fire would be contingent on the release of Israeli hostages abducted during Hamas’s deadly attack on Oct. 7.
Netanyahu’s comments came after a meeting with Secretary of State Antony Blinken, who said that the U.S. stood “in solidarity” with Israel, but that “it matters” how Israel conducts its military campaign in Gaza.
On the ground, the Israeli military said it had carried out a strike on an ambulance “being used by a Hamas terrorist cell” in Gaza City. A hospital director said 13 people were killed.
These maps show how far Israel has moved into Gaza.
Sam Bankman-Fried’s wild rise and abrupt crash
After four hours of deliberation, a jury in Manhattan last night convicted the former cryptocurrency mogul Sam Bankman-Fried of seven charges of fraud and conspiracy. The verdict capped a monthlong trial that laid bare rampant hubris and risk-taking across the crypto industry.
The trial also revealed the depth of the myth Bankman-Fried had created around himself and his companies; that he was an unkempt boy genius who aspired to be a trillionaire for charitable reasons. Investors had bought into his story, but the jurors did not.
Eric Adams’s campaign faces corruption questions
Federal prosecutors and the F.B.I. are investigating whether the 2021 election campaign of New York City’s mayor, Eric Adams, received illegal donations from Turkey. Details of the investigation have burst out in public over the last 24 hours, after federal agents raided the home of the mayor’s chief fund-raiser.
Adams is not accused of wrongdoing. But the raid could pose a serious political threat for the mayor, who has faced ethics issues for years.
More top news
Trump: Eric Trump’s testimony in the New York fraud trial was overshadowed by a testy exchange between the judge and a Trump lawyer over the judge’s law clerk.
War: Russian forces targeted Ukraine with their biggest drone attack in weeks.
Maine: President Biden traveled to Lewiston to meet with the families of those killed or injured during the mass shooting that killed 18 people.
Climate: To cope with extreme weather, Hoboken, N.J., has been building infrastructure such as new parks, which proved to be real lifesavers during the rain bomb in September.
India: Schools shut down and residents were told to stay indoors as the government seemed unable to avert the heavy pollution that descends at the onset of winter there.
Health: Mount Sinai Beth Israel, one of the last remaining hospitals serving Lower Manhattan, may well close next year.
Tech: Cruise, a subsidiary of General Motors, has hired a law firm to investigate how it responded to regulators as its fleet of driverless taxis sits idle.
Ozempic: Some psychiatrists have started prescribing the drug to counter weight gain from antipsychotics and antidepressants.
Science: A top scientist has proposed a new way to reconcile the two different ways that our clocks keep time: the leap minute.
Sports: After a 40-year wait, Leonel Martínez, a trap shooter from Venezuela, has qualified to return to the Olympics.
TIME TO UNWIND
Meg Ryan revisits the rom-com
Few actresses represent the golden era of romantic comedies more than Meg Ryan. Her performances in Nora Ephron’s “When Harry Met Sally,” “Sleepless in Seattle” and “You’ve Got Mail” are beloved to this day. Now in her 60s, Ryan is returning to the genre with a twist.
“What Happens Later,” which arrives in theaters today, examines issues of aging and regret through the story of former lovers reconnecting after 25 years. “While it’s unlikely to join the rom-com pantheon,” our reviewer wrote, “its charming leads and humorous truths do invoke the spirit of Ephron, to whom the film is dedicated.”
A $500 pair of shoes that lasts for just one race
Tens of thousands of runners will compete on Sunday in the New York City Marathon, a 26.2-mile race weaving through all five boroughs. My colleagues, some of whom will run the race, have been covering the buildup, from what to expect on the course to the training regimen of a blind runner.
One thing to watch for: The fastest runners will likely all be wearing specially designed race shoes. The most controversial among them is the new Adizero Adios Pro Evo 1 — which costs $500 and lasts for only one race. Some runners say they have felt a boost from wearing them, but not everyone is convinced the shoe is worth it.
If you’re in the city, there are countless places to join the watch party; if not, you can still watch from home.
Dinner table topics
The youngest senior: Moving to Florida for early retirement, a New Jerseyan in her 50s is finding fun in a community where the average age is 79.
Beautiful landscape: New Zealand is becoming a first choice for second homes.
Solve to win: It isn’t easy to become a Sudoku world champion. Even the most elite puzzlers sometimes resort to guesses.
Dressed to sell: The reality show “Selling Sunset” is supposed to be about real estate. But many viewers come for the fashion, and the cast knows it.
WHAT TO DO THIS WEEKEND
Cook: A creamy coconut dressing enlivens this warm vegetable salad.
Watch: Our TV critic recommends the lush documentary “Planet Earth III” premiering Saturday.
Listen: Otto Klemperer’s conducting still stuns, 50 years after his death.
Praise: Offer a friend a compliment. Research shows it benefits everyone involved.
Prepare: Clocks will fall back on Sunday. Here’s how to cope with the dwindling daylight.
Preserve: We have some tips for storing print photographs.
Compete: Take this week’s news quiz.
Play: Here are today’s Spelling Bee, Wordle and Mini Crossword. Find all our games here.
ONE LAST THING
An online gossip hound spills her own tea
For the last five years, an anonymous YouTube account called Spill Sesh has gained a following making videos about the biggest social media stars — recapping their dramas and commenting on their beefs. Fans often speculated about who was behind the account.
But the guessing game is over. Today, Kristi Cook, a former TMZ staff member who grew up in Florida, revealed that she is the person behind Spill Sesh. In an interview, she explained that she had initially kept her identity hidden because she felt it gave her more creative freedom.
Have an in-the-know weekend.
Thanks for reading. I’ll be back next week. — Matthew
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