The ongoing strike by Boeing machinists is expected to have a significant impact on the last jobs report before the presidential election.
The strike, which began on September 13, involves approximately 33,000 machinists who rejected a union-endorsed labor contract. This strike is part of a larger wave of strikes affecting around 44,000 workers across the country.
Economists predict that the U.S. economy added around 100,000 jobs in October, but the impact of the Boeing strike, along with disruptions caused by hurricanes, is expected to lower payroll figures by at least 50,000.
The strike also complicates Boeing's efforts to address safety, quality, and financial issues. The company is planning to cut 10% of its global workforce, and layoffs are expected to be announced in mid-November.
The repercussions of the strike are likely to affect the aerospace supply chain, with key manufacturers already placing workers on furlough. The timing of layoffs is more challenging to incorporate into employment surveys compared to strikes, adding complexity to the employment situation in the aerospace sector.
The outcome of the strike and its effects on employment figures could play a crucial role in shaping public perception and influencing voter sentiment leading up to the election.