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From CNBC: Job creation in November rebounded from a near-standstill the prior month as the effects of a significant labor strike and violent storms in the Southeast receded, the Bureau of Labor Statistics reported Friday.
Nonfarm payrolls increased by 227,000 for the month, compared with an upwardly revised 36,000 in October and the Dow Jones consensus estimate for 214,000. September’s payroll count also was revised upward, to 255,000, up 32,000 from the prior estimate. October’s number was held back by impacts from Hurricane Milton and the Boeing
strike.
The unemployment rate edged higher to 4.2%, as expected. The jobless figure rose as the labor force participation rate nudged lower and the labor force itself declined. A broader measure that includes discouraged workers and those holding part-time jobs for economic reasons moved slightly higher to 7.8%.
The data likely gives the Federal Reserve a green light to lower interest rates later this month.
See our interactive graphics on today’s #JobsReport https://t.co/zr2jYOBDg8 #BLSdata #DataViz
— BLS-Labor Statistics (@BLS_gov) December 6, 2024
.@elerianm, Bloomberg Opinion columnist and Queens’ College president, says the US November jobs report will make the Federal Reserve feel comfortable in cutting interest rates by 25 basis points. He’s on “Bloomberg Surveillance” https://t.co/L2bd4bXGS9 pic.twitter.com/zZzIB3IXXl
— Bloomberg TV (@BloombergTV) December 6, 2024
Full-time jobs: -111K
Part-time jobs: -268K pic.twitter.com/sgKRFF2Hig— zerohedge (@zerohedge) December 6, 2024
Another confusing & inconclusive US jobs report: Nonfarm payrolls increased by 227,000 in November, but the household survey showed a decline of 355,000 jobs. Meanwhile, the unemployment rate ticked up to 4.2%. pic.twitter.com/5VqjeNHniZ
— Holger Zschaepitz (@Schuldensuehner) December 6, 2024
Payrolls increased 227,000 in November, more than expected; unemployment rate at 4.2% https://t.co/4Gsxvso1dl
— CNBC (@CNBC) December 6, 2024
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