🫶 U.S. Added 227,000 Jobs, Unemployment Stayed At 4.2% In November Job growth in November exceeded expectations, with nonfarm payrolls increasing by 227,000, surpassing the forecast of 214,000. This marks an improvement from the low growth of 12,000 reported in October, which many economists attributed to extreme weather conditions. The unemployment rate held steady at 4.2%, in line with projections. The Labor Department also revised job growth figures for September and October upwards, adding 32,000 and 24,000 jobs, respectively. Financial markets reacted positively, with S&P 500 futures rising 0.1% and 10-year Treasury yields dipping to about 4.15%, the lowest since October. November marked the sixth consecutive month of unemployment above 4%, following a period from February 2022 to April 2024 when it was below that level. Average hourly earnings for private nonfarm employees reached a record high of $35.61, reflecting a 4% increase over the past year, which has outpaced the sub-3% annual inflation rate. Despite earlier concerns about the labor market's health, particularly after an unexpected spike in unemployment in July, recent reports have shown a more stable outlook. However, mixed signals persist, as a recent ADP report indicated weaker job growth, while job openings exceeded expectations. Overall, the stock market has rebounded significantly, with the S&P 500 gaining over 15% since early August. 💬 Source 📌 Powered by V3V Ventures