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Payroll Growth Returns In November But Labor Market Stays Soft

Photo by Jon Tyson / Unsplash

US employers added 64,000 jobs in November, rebounding from a revised loss of 105,000 in October, according to delayed data released Tuesday by the Bureau of Labor Statistics.

The gain topped expectations but pointed to a slowing labor market. The unemployment rate rose to 4.6 percent, its highest level since September 2021. A broader measure of joblessness climbed to 8.7 percent.

Hiring has cooled amid policy uncertainty, high interest rates, and tighter border enforcement under President Donald Trump.

Much of November’s job growth came from health care, which added 46,000 positions. Construction and social assistance also posted gains.

Transportation, warehousing, and leisure sectors lost jobs. Government employment continued to decline after deferred layoffs took effect.

Federal officials cautioned that data disruptions from the recent government shutdown may cloud the picture for months. Average hourly wages rose just 0.1 percent, easing inflation concerns.

The Federal Reserve recently cut rates but signaled caution on further reductions.

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November Jobs Report Points To Weak Labor Market Momentum
US employers likely added just 40,000 jobs in November, signaling a sluggish labor market as businesses remain cautious amid policy uncertainty and technological change. Forecasters expect the unemployment rate to hold at 4.4 percent. Emerging-market stocks are heading for another day of losses of more than 1% as

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