Boeing Co (NYSE:BA, ETR:BCO)’s ongoing strike is set to weigh on jobs figures as the health of the US economy is mulled ahead of next month’s presidential election.
Non-farm payroll figures for October are due from the Labour Department on Friday, reflecting the final monthly report before the election on November 5.
This is expected to show 100,000 jobs being added across the US over the month, following an expectation-beating 254,000 in September.
Strikes among Boeing workers will largely drag down the figure, according to Bank of America analysts, alongside the effects of hurricanes Helene and Milton.
Some 44,000 workers had been shown to be on strike in the previous report, of which around 33,000 were from Boeing’s Seattle area facilities.
They had walked out in mid-September, with an offer of a 35% pay rise over the coming four years aimed at ending the strike having been rejected last week.
Federal Reserve governor Christopher Waller acknowledged in a speech earlier this month that lower jobs figures for October would likely reflect a “significant but temporary loss of jobs,” which could have a “small effect on the unemployment rate”.