October And November Jobs Report: Noisy, Not Recessionary
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Principal Financial Group1.2K FollowersFollow5ShareSaveCommentsSummaryThe U.S. added a modest 64,000 jobs in November, slightly above expectations, reinforcing the notion that the labor market is cooling but not collapsing.Private payrolls rose by 52,000 in October and 69,000 in November, maintaining a modest upward trend since June, a stark contrast to federal job cuts experienced so far this year.While October’s job losses look severe, the decline was almost entirely driven by a sharp drop in government employment, which declined 157,000 in the period and is down a total of 271,000 this year. skynesher/E+ via Getty Images By Seema Shah, Managing Director, Chief Strategist; Christian Floro, CFA, CMT, Market Strategist; and Magdalena Ocampo, Market Strategist The U.S. added a modest 64,000 jobs in November, slightly above expectations, reinforcing the notion that the labor market isThis article was written byPrincipal Financial Group1.2K FollowersFollowThe Principal Financial Group (The Principal®) is a global investment management leader offering retirement services, insurance solutions and asset management. The Principal offers businesses, individuals and institutional clients a wide range of financial products and services, including retirement, asset management and insurance through its diverse family of financial services companies. Founded in 1879 and a member of the FORTUNE 500®, the Principal Financial Group has $519.3 billion in assets under management1 and serves some 19.7 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States.
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