The latest report from the Labor Department reveals a significant slowdown in job growth in the United States, with only 12,000 jobs added in October, a stark decline from the 223,000 jobs created the previous month. This report comes just ahead of next week's elections and highlights the ongoing challenges facing the labor market, including the effects of recent hurricanes and corporate strikes.

Despite the sluggish job growth, the unemployment rate remains steady at 4.1%. President Biden addressed union workers in Philadelphia, emphasizing the strength of the economy and the role of unions in its success. He proclaimed himself the most pro-union president in American history and noted that the middle class is expanding, asserting that the U.S. economy is currently the best in the world.

Looking ahead, the Federal Reserve is anticipated to cut interest rates for the second time next week, responding to a significant decrease in inflation since its peak in 2022. However, consumer frustration persists over high prices, indicating ongoing economic concerns.

In international news, Spain is grappling with a devastating flooding disaster, with the death toll rising to at least 205 and many individuals still unaccounted for. This catastrophe is being described as one of Europe's worst in decades, with parts of Valencia experiencing over a year's worth of rainfall in just eight hours. The flooding has caused extensive damage to infrastructure and left a lasting impact on the affected communities, as volunteers mobilize to assist those in need.