Market Data 
- The US added 227,000 jobs in November, greater than the expected gain of 202,000.
- Unemployment ticked up as expected from 4.1% to 4.2%.
- The job market’s strength in October was clouded due to hurricanes and strikes impacting data collection.
The US added 227,000 jobs in November, more than the consensus expectation of 202,000.
Unemployment increased as expected, from 4.1% in October to 4.2% in November. The rate has been at least 4% since May. While that’s low compared to historical averages, the overall labor market has cooled due to a hiring slowdown.
The new jobs report gives the Federal Reserve better information about the state of the labor market after October’s report was hampered by the effects of hurricanes and strikes.
The Fed’s two most recent interest-rate decisions were both cuts, a 50-basis-point cut in September and a 25-basis-point cut in November. Americans will know if there will be one more rate cut this year on December 18. The CME FedWatch tool, which shows what traders think Federal target rate decisions will be, shows an almost 70% chance of a 25-basis-point cut in December.
This is a developing story. Please check back for updates.
