That helped to push down the jobless rate to 3.7% – the lowest level since July.
The monthly report is being closely watched as the US central bank tries to cool the economy to reduce inflation, the rate at which prices rise.
The monthly report is being closely watched as the US central bank tries to cool the economy to reduce inflation, the rate at which prices rise.
But the latest figures, while welcome news for jobseekers, may confound those hopes.
As well as stronger-than-expected job gains, the report showed average hourly pay ticking up 0.4% from October.
Average hourly earnings have climbed 4% from November 2022 – a rate that analysts said was too fast for the Fed to declare its job is done.
The strength of the US economy over the past year has defied expectations and persistently glum economic sentiment.
In the most recent quarter, it expanded at an annual rate of 5.2% – well above the trend in pre-pandemic years.
The monthly report is being closely watched as the US central bank tries to cool the economy to reduce inflation, the rate at which prices rise.
That helped to push down the jobless rate to 3.7% – the lowest level since July.
But the latest figures, while welcome news for jobseekers, may confound those hopes.
The monthly report is being closely watched as the US central bank tries to cool the economy to reduce inflation, the rate at which prices rise.
The monthly report is being closely watched as the US central bank tries to cool the economy to reduce inflation, the rate at which prices rise.
But the latest figures, while welcome news for jobseekers, may confound those hopes.
As well as stronger-than-expected job gains, the report showed average hourly pay ticking up 0.4% from October.
Average hourly earnings have climbed 4% from November 2022 – a rate that analysts said was too fast for the Fed to declare its job is done.
The strength of the US economy over the past year has defied expectations and persistently glum economic sentiment.
In the most recent quarter, it expanded at an annual rate of 5.2% – well above the trend in pre-pandemic years.
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