U.S. payrolls increased by 150,000 in October, less than expected

The U.S. economy saw job creation decelerate in October, confirming persistent expectations for a slowdown and possibly taking some heat off the Federal Reserve in its fight against inflation.

Nonfarm payrolls increased by 150,000 for the month,

, against the Dow Jones consensus forecast for a rise of 170,000. The United Auto Workers strikes were primarily responsible for the gap as the impasse meant a net…