November Jobs Report: Joblessness Jumps To 3-Year High
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MTS Insights771 FollowersFollow5ShareSavePlay(11min)CommentsSummaryThe latest BLS jobs report reveals a weakening labor market, with unemployment rising to 4.6%, the highest since September 2021.Private payrolls showed modest growth, but gains were concentrated in construction and education/health services; other sectors remain soft.Government payroll volatility, driven by shutdown effects and early retirements, distorts headline jobs data—private sector trends are more reliable.Market reaction was mixed, but the upside surprise in unemployment tilts the outlook dovish, increasing odds of a January Fed rate cut if trends persist. Dragon Claws/iStock via Getty Images It has been a while since we’ve seen a jobs report from the BLS, but the day is finally here. After a long shutdown-induced pause, this release delivers a rare two-month snapshot of the labor market, combining olderThis article was written byMTS Insights771 FollowersFollowI cover global macro data releases and events; ETFs representing sectors, industries, and asset classes; and earnings reports. For more analysis, visit my website or follow me on X.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.