The unemployment rate stayed at 3.7%, still near a 53-year low, the Labor Department said Friday.
The nation's employers kept hiring briskly in November despite high inflation and a slow-growing economy - a sign of resilience in the face of the Federal Reserve's aggressive interest rate hikes.
The strength of November's hiring gain will raise concerns that the Fed may now have to keep rates high even longer than many had assumed. The reaction on Wall Street was immediate, with Dow Jones Industrial Average futures tumbling nearly 400 points. After having contracted in the first six months of the year, the U.S. economy expanded at a brisk 2.9% annual rate last quarter. In addition to strength from consumer spending, a spike in exports helped boost growth.
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US hiring stayed strong in November as employers added 263,000 jobsThe unemployment rate stayed 3.7%, still near a 53-year low, the Labor Department said Friday.
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U.S. hiring stayed strong in November as employers add 263,000The nation’s employers kept hiring briskly in November despite high inflation and a slow-growing economy. The economy added 263,000 jobs last month — a sign of resilience in the face of the Fed’s aggressive interest rate hikes.
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November Jobs Report Blows Past Expectations, Flying in the Face of Fed Rate HikesJob growth was much better than expected in November despite the Federal Reserve's aggressive efforts to slow the labor market and tackle inflation. CNBC
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U.S. stock futures tumble, yields surge after stronger-than-expected jobs reportU.S. stock futures tumbled Friday after data from the Labor Department showed the U.S. economy added 263,000 jobs in November, far exceeding expectations and...
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US hiring stayed strong in November as employers add 263,000 jobs despite inflation, economyThe nation's employers kept hiring briskly in November despite high inflation and a slow-growing economy.
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