Posted 12/8/2023, 3:31:39 PM
Strong Job Growth in November Signals Resilient Economy
- US added 199,000 jobs in November, exceeding forecasts and showing labor market remains strong
- Unemployment rate fell to 3.7% as more people entered the workforce
- Wage growth accelerated, rising 0.4% in November, matching the biggest monthly increase this year
- Consumers feel more optimistic about the economy, with a sentiment index rising to a 4-month high
- Jobs gains make it less likely the Fed will cut interest rates soon, countering expectations of rate cuts in early 2023