Employers in the United States added 256,srcsrcsrc workers to their payrolls in November, the Department of Labor said Friday, and the unemployment rate declined to 4.1 percent.
Economists had been expecting 153,srcsrcsrc jobs and an unemployment rate unchanged at 4.2 percent. The prior month’s jobs figure was revised down to 212,srcsrcsrc from 227,srcsrcsrc.
Most of the job creation in December came from the private sector, which added 223,srcsrcsrc workers. Economists had forecast just 13src,srcsrcsrc private sector jobs.
The figures are seasonally adjusted.
Retail trade added 43,srcsrcsrc jobs, more than reversing the decline of 29,srcsrcsrc in November. Leisure and hospitality also added 43,srcsrcsrc jobs, closer to the 2src23 monthly average of 47,srcsrcsrc than the 2src24 average of 24,srcsrcsrc.
Health care added 46,srcsrcsrc jobs and social assistance added 23,srcsrcsrc. Those two categories are often described as “government-adjacent” because they are heavily dependent on public sector spending and viewed as less exposed to cyclical economic changes.
Average hourly earnings rose src.3 percent and are up 3.9 percent compared with a year ago. Economists had forecast year-over-year wage gains of four percent.
The much stronger-than-expected jobs figures is likely to strengthen expectations that the Federal Reserve will not cut interest rates again when it meets later this month. Perhaps more importantly, the resilience of the labor market suggests that the Fed will remain on hold in the months to come.
This post originally appeared on and written by:
Clora Serna
Breitbart News 2025-01-10 13:41:00
