Job creation surged in November, recovering from October's weak performance impacted by a labor strike and severe storms in the Southeast. Nonfarm payrolls grew by 227,000, surpassing the Dow Jones estimate of 214,000. The unemployment rate increased to 4.2%, driven by a lower labor force participation rate. The latest data likely signals a Federal Reserve rate cut in December. Sectors such as healthcare, leisure and hospitality, and government-led job gains, while retail declined. Average hourly earnings rose by 0.4%, exceeding expectations.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Job creation surged in November, recovering from October's weak performance,
00:06impacted by a labor strike and severe storms in the Southeast.
00:10Non-farm payrolls grew by 227,000, surpassing the Dow Jones estimate of 214,000.
00:16The unemployment rate increased to 4.2 percent,
00:19driven by a lower labor force participation rate.
00:22The latest data likely signals a Federal Reserve rate cut in December.
00:25Sectors such as health care, leisure and hospitality,
00:29and government-led job gains, while retail declined.
00:32Average hourly earnings rose by 0.4 percent, exceeding expectations.
00:36For all things money, visit Benzinga.com slash GSTV.