Posted 12/8/2023, 1:37:00 PM
November Job Growth Rebounds as Striking Workers Return, Unemployment Drops
- Return of striking workers helped boost November job gains to 199,000; economists expected 190,000 jobs
- Unemployment rate fell to 3.7%, a four-month low, as more people entered labor force and found work
- Wage growth accelerated to 0.4% monthly pace, largest gain in four months, though yearly increase unchanged at 4%
- Job gains were concentrated in healthcare, government, and the return of striking workers
- Labor market showing some signs of softening as higher interest rates take toll, but still seen as quite strong