November job growth rebounded with 227,000 new nonfarm jobs, up from October's revised 36,000, as strike and storm effects eased. Unemployment rose slightly to 4.2%, with labour force participation dipping to 62.5%. Key sectors like health care (+54,000) and leisure (+53,000) led gains, while retail lost 28,000 jobs. Wages increased 0.4% monthly and 4% annually, slightly above expectations. Despite cooling inflation, recent labour and price trends pose challenges for the Federal Reserve. Strong hiring but higher unemployment provides mixed signals, bolstering expectations for a Fed rate cut in December, with markets pricing in an 88% chance. US equities showed strength on the news with the tech heavy Nasdaq leading the gains.
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UK Economy grows just 0.1% in Q3
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US inflation stays in comfortable range
US inflation stays in comfortable range