Job growth of the United States in October was far below previous expectations, and experts attributed it to disruptions of hurricanes and strikes by workers in the aerospace industry.
The U.S. Labor Department reported on Friday that nonfarm payrolls increased by 12,000 jobs in October, far below the previous forecast of 113,000 by some economists and also significantly lower than the monthly average level over the past year.
Manufacturing and retail trade employment declined by 46,000 and 64,000, respectively, while professional and technical jobs decreased by 47,000.
The sluggish job growth is attributed to hurricanes Helene and Milton that lashed across the southeastern United States in late September and early October, as well as the crippling strikes launched by U.S. workers, most at Boeing, according to experts.
After its Sept. 17-18 meeting, the U.S. Federal Reserve (Fed) slashed the target range for the federal funds rate by 50 basis points to 4.75-5 percent, amid cooling inflation and a weakening labor market. This marked the first rate cut in over four years and signaled the start of an easing cycle.
The Fed will hold its next policy meeting from Wednesday to Thursday. The Chicago Mercantile Exchange Group's FedWatch Tool, which acts as a barometer for the market's expectation of the Fed funds target rate, showed that as of Friday morning, the probability of the Fed cutting rates by 25 basis points at the November meeting was over 99 percent.
The Institute for Supply Management (ISM) reported on Friday that the U.S. Manufacturing Purchasing Managers' Index (PMI) stood at 46.5 percent in October, down 0.7 percentage points from the 47.2-percent reading registered in September and hitting a new low of this year.
Any reading below 50 percent indicates the manufacturing sector is generally contracting. The number marks that in 23 of the past 24 months, the U.S. manufacturing sector contracted, showing a continuous weak demand.
Weak U.S. job growth in October attributed to hurricanes, strikes
Flower breeding and cultivation bases across China are actively promoting new and healthier varieties of flowering trees and plants, helping create a brighter future for the country's famous springtime scenery.
In a peach blossom scenic area in Changde City of central China's Hunan Province, more than 50 varieties of peach blossoms are in full bloom, attracting flocks of visitors.
The varieties in the area come from the national peach germplasm resource bank in the city. Through artificial cultivation, not only are the varieties of flowers increasing, but the flowering period is also being extended.
According to researchers, one of the star varieties, noted for its rich color, took nearly 16 years to cultivate and promote in the scenic area.
"Its biggest feature is its strong resistance to gummosis. We can see that although a branch like this is damaged, there is no gummosis, so it has a long lifespan and can be used in gardens for a longer time," said Wang Yan, professor of the province's Changde Vocational and Technical College.
Gummosis is the formation of gummy substances on the surface of the trees, which often result from dead tissue.
At Phalaenopsis World, the country's largest phalaenopsis tissue culture center in Suqian City in east China's Jiangsu Province, technicians are cutting phalaenopsis seedlings into thin slices and planting them one by one in transparent bottles, allowing them to multiply exponentially.
"The breeding cycle is short, and the light, temperature and humidity can be freely adjusted artificially. The phalaenopsis bred using this technology have high uniformity and fast growth rate," said Wang Yanting, a plant inoculation specialist at the cultivation center.
Researchers said that the planting center uses more than 200 smart sensors and 5G technology to accurately control growth factors such as temperature, humidity, light, and ventilation to achieve "timed flowering."
"In fact, the natural flowering period of phalaenopsis should be from the beginning of the Chinese New Year to early May, and this is its natural state. Now we can intervene with technology and make it bloom any day we want. Phalaenopsis blooms through temperature regulation. At this time, we need to use air conditioning equipment, constant temperature equipment and dehumidification equipment," said Cao Guofeng, director of the cultivation base.
Breeding bases across China promote new spring flower varieties
