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Anticipating the impact on the economy


The U.S. economy is currently strong, with labor market growth expected to continue despite potential temporary disruptions caused by hurricanes and a strike involving Boeing workers. The final pre-election jobs report is set to be released next week, just before Election Day. Swing states with close vote margins may be influenced by economic concerns, with many voters closely watching the impact of the hurricanes and strike on job numbers. Initial jobless claims in hurricane-impacted states have already increased, and layoffs from the Boeing strike could further complicate the jobs picture. Despite these challenges, state unemployment data released prior to the storms and strike showed rates remaining low or declining, particularly in swing states like Arizona and Wisconsin. Pennsylvania, a key state in the Electoral College, also maintained a low unemployment rate. Georgia and North Carolina saw slight increases in unemployment rates, but they remained at or below pre-pandemic levels. Overall, the economy is expected to continue its strong performance, but the upcoming jobs report could reveal the immediate impact of recent disruptions on the labor market.

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