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The October jobs report wasn't expected to be good. But it wasn't expected to be this bad, either.
The economy added just 12,000 jobs last month. The expectation had been that the number would be 113,000.
The unemployment rate was 4.1%, which was in line with expectations.
We also saw revisions to the number of jobs added in September and August. The September number of 254,000 was revised down to 223,000, a difference of 31,000 jobs. The August number was cut from 159,000 to 78,000.
The Federal Reserve, which cut interest rates in September, meets again next week, beginning on Wednesday. Its next policy decision is due on Thursday.