- US economy creates 263,000 jobs in November, exceeding the 200,000 expected.
- Unemployment rate remains at 3.7%
- The dollar jumps after the data cutting weekly losses.
The official employment report for November in the United States showed figures above expectations. The non-farm payrolls, which was expected to increase by 200,000, rose by 263,000. In turn, the data for October was revised upwards from 261,000 to 284,000. Still, the November payroll reading is the lowest since April of last year.
The unemployment rate it remained at 3.7%, as expected. while the labor participation rate it went from 62.2% to 62.1%.
In regards to the hourly income, these registered an advance of 0.6% in November, higher than the 0.3% of the market consensus. Compared to a year ago, the rise was 5.1%, an acceleration compared to the 4.9% in October
The dollar It had been weakened before the employment report, with several sessions of losses as a result of expectations of a softening in the pace of interest rate increases by the Federal Reserve. After the data, it made up ground significantly. Commodities and Wall Street undertook a sharp decline.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.