U.S. Job Growth Beats Expectations in November as Unemployment Rate Falls to 3.7%
- Unemployment rate unexpectedly fell to 3.7% in November from 3.9% in October
- 199,000 jobs added in November, exceeding expectations
- Wage growth rose 0.4% monthly and 4.1% annually, topping forecasts
- Healthcare added the most jobs at 77,000; government employment rebounded
- Data suggests Fed may need to keep interest rates higher for longer than expected