US Economy Added 263,000 Jobs in November
Summary from AllSides News Team
The U.S. economy added 263,000 jobs in November, and the unemployment rate remained at 3.7%, according to the Labor Department.
For Context: The job growth came in spite of continued interest rate hikes and other actions by the government to curb high inflation. Economists surveyed by Dow Jones expected an increase of 200,000 jobs. The labor force participation rate was 62.1%, still 1.3 percentage points below its pre-pandemic level.
How the Media Covered It: The November jobs report was a top story from sources across the political spectrum Friday morning. Many sources, regardless of bias rating, framed the data as a sign of a resilient job market.
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From the CenterNovember Employment Report Shows U.S. Economy Added 263,000 Jobs
The U.S. economy added 263,000 jobs in November and the jobless rate remained at 3.7%, signs of continued strength in the labor market.
The November payrolls gain compared with an upwardly revised 284,000 jobs in October, the Labor Department said Friday. Payrolls grew in leisure and hospitality, healthcare and government. Retailers and transportation-and-warehousing companies cut jobs in a sign of weak holiday hiring.
Average hourly earnings grew 5.1% in November from a year earlier, the department said. Wage growth has remained elevated but roughly stable after a sharp increase earlier in the year....
From the RightUS economy adds 263,000 jobs in November, better than expected as hiring remains solid
U.S. job growth rose faster than expected in November as the labor market remained resilient in the face of higher interest rates, scorching-hot inflation and mounting recession fears.
Employers added 263,000 jobs in November, the Labor Department said in its monthly payroll report released Friday, topping the 200,000 jobs forecast by Refinitiv economists. It marks a slight deceleration from the upwardly revised job gain of 284,000 recorded in October. The unemployment rate, meanwhile, held steady at 3.7%.
The report will likely do little to sway the Federal Reserve in its fight against inflation,...
From the LeftU.S. economy added 263,000 jobs in November, more than expected despite Fed rate hikes
Job growth was much better than expected in November despite the Federal Reserve’s aggressive efforts to slow the labor market and tackle inflation.
Nonfarm payrolls increased 263,000 for the month while the unemployment rate was 3.7%, the Labor Department reported Friday. Economists surveyed by Dow Jones had been looking for an increase of 200,000 on the payrolls number and 3.7% for the jobless rate.
The monthly gain was a slight decrease from October’s upwardly revised 284,000.
The numbers likely will do little to slow a Fed that has been raising...