Jobs Report Live Updates: U.S. Adds 227,000 Jobs in November
Published On Dec 6, 2024, 6:05 AM
The U.S. economy added 227,000 jobs in November, signaling modest expansion despite disruptions from storms and strikes earlier in the year. The unemployment rate rose slightly from 4.1% to 4.2%. Average hourly earnings increased by 0.4%, indicating rising wages, particularly in sectors affected by recent storms. The retail sector, however, lost 28,000 jobs, potentially due to shifts towards online shopping. The finance sector showed signs of recovery with the addition of 13,200 jobs. Long-term unemployment is increasing, as job seekers are taking longer to find positions. These labor market dynamics may influence Federal Reserve decisions on potential interest rate cuts in December, with indications of stable yet cooling conditions in the job market.
Stock Forecasts
XLY
Positive
The solid job growth and wage increase may suggest a resilient economy, potentially leading to greater investments in consumer-related sectors. However, the loss of retail jobs raises concerns about the strength of consumer spending. Overall, it reflects uncertain but moderately positive conditions for the economy.
TLT
Negative
Despite the job growth, the increasing unemployment rate and longer job search times could indicate underlying challenges in the labor market, which might negatively impact sectors sensitive to consumer spending and employment levels. Interest rates may influence bond market investments based on the Fed's future actions.
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