The U.S. jobs report for October revealed a substantial slowdown in employment growth, with only 12,000 jobs added, falling significantly short of the anticipated 113,000. The previous month's job gain was revised down from 254,000 to 223,000. The unemployment rate remained stable at 4.1%. This disappointing data comes just ahead of the U.S. presidential election and a critical Federal Reserve policy meeting. Notably, average hourly earnings rose by 0.4%, exceeding forecasts, while average weekly hours held steady. The report also included a note from the Bureau of Labor Statistics indicating it could not assess the impact of recent storms on the labor data. Following the report, the price of Bitcoin remained volatile but held around $70,000, after reaching higher earlier in the week. Market reactions included modest gains in U.S. stock index futures, a slight dip in the 10-year Treasury yield, and a small decline in the U.S. dollar. Overall, this employment data will likely influence the upcoming Fed meeting and the broader economic outlook.

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