The U.S. labor market has been battered by hurricanes and strikes, with only 12,000 jobs created in October, well below the 100,000 forecast. This does not seem to worry Wall Street, but it has sparked reactions in the election campaign just days before the vote.

The White House has sought to reassure by saying that the economy “remains strong” and that employment is expected to improve in November, trying to downplay the fact that the October result represents the worst month since 2020, during the Biden administration. Meanwhile, Donald Trump’s team has used the situation to criticize Kamala Harris and her “failed policies.” For the vice president, this data represents a significant challenge, since the economy is a key issue for voters and Trump appears to have an advantage in this area.

Despite a 2.8% third-quarter GDP growth and inflation down to 2.1%, many Americans feel the economy is worse off than it was a few years ago, with prices still weighing on their household budgets. Although price increases have slowed, food and housing costs are higher than pre-pandemic levels. Wage increases are not fully offsetting the financial strain on families. Trump’s campaign has called the jobs data a “catastrophe,” promising that his return to the White House would solve many economic problems.

Trump has said he wants to reduce the price of gasoline to less than $2 a gallon and has proposed tax cuts for several groups. On the other hand, Harris has spoken of creating an “opportunity economy” with benefits for all, including aid to families and support for small businesses, financed by a tax increase for those earning over $400,000. However, her proposals do not seem to convince voters, who remain skeptical about the results of ‘Bidenomics’.

Many believe that the credit for falling prices and economic stability is primarily attributable to the Federal Reserve. After raising interest rates to their highest levels in two decades, the Fed is now expected to cut the cost of money at a meeting scheduled shortly after the election.

Finally, while the economy is a central theme for Harris in this sensitive time, Joe Biden’s blunder about Trump supporters continues to generate controversy. The White House attempted to correct his words with edits to the original transcript, but that only drew more criticism rather than easing tensions. Harris will have to distance herself from this difficult situation as well as from the image of a president whose approval ratings have plummeted.