November Jobs Report: Solid Hiring, Softer Wages, And Cycle-High Unemployment
Summarize this article with:
Mike Zaccardi, CFA, CMT8.65K FollowersFollow5ShareSavePlay(5min)Comments(5)SummaryNovember U.S. jobs growth beat expectations with 64,000 jobs added, but the unemployment rate rose to 4.6%, a new cycle high.Average hourly earnings growth slowed to 3.5% year-over-year, the lowest since May 2021, signaling easing wage pressures.Private-sector job gains remained solid, but manufacturing employment declined for the seventh consecutive month.Markets reacted with little net change, while odds of a January Fed rate cut increased modestly amid mixed economic signals.
Marvin Samuel Tolentino Pineda/iStock via Getty Images The U.S. economy added 64,000 jobs in November, above the Wall Street consensus forecast of just 40,000. Last month’s employment situation was an improvement from a loss of 105,000 positions in October. Notably, the unemployment rateThis article was written byMike Zaccardi, CFA, CMT8.65K FollowersFollowFreelance Financial Writer | Investments | Markets | Personal Finance | RetirementI create written content used in various formats including articles, blogs, emails, and social media for financial advisors and investment firms in a cost-efficient way. My passion is putting a narrative to financial data. Working with teams that include senior editors, investment strategists, marketing managers, data analysts, and executives, I contribute ideas to help make content relevant, accessible, and measurable. Having expertise in thematic investing, market events, client education, and compelling investment outlooks, I relate to everyday investors in a pithy way. I enjoy analyzing stock market sectors, ETFs, economic data, and broad market conditions, then producing snackable content for various audiences. Macro drivers of asset classes such as stocks, bonds, commodities, currencies, and crypto excite me. My thing is communicating finance with an educational and creative style. I also believe in producing evidence-based narratives using empirical data to drive home points. Charts are one of the many tools I leverage to tell a story in a simple but engaging way. I focus on SEO and specific style guides when appropriate.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.