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.

Read full article

Stock Forecasts

AI prediction results, not representative of any investment advice.

XLY View XLY chart on TradingView

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 View TLT chart on TradingView

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.

Related News

Wall Street is betting on a strong US economy in 2025: Morning Brief

Dec 4, 2024, 6:00 AM

So far, most equity strategy teams see the stock market rising in 2025, buttressed by another strong year of economic growth. That may favor value stocks this time — instead of yet another year of Big Tech domination.

XLF

XLY

XLB

XLU

XLRE

Stock market today: S&P 500, Nasdaq close at record highs as tech surges to kick off December

Dec 2, 2024, 4:00 PM

Investors are looking ahead to a week of labor data that could influence the scope of interest rate cuts.

AAPL

TSLA

STLA

INTC

SMCI

XLY

S&P 500 will hit 6,666 in 2025 with large cap value stocks leading the way: BofA

Dec 2, 2024, 12:19 PM

Bank of America believes strong economic growth will support further broadening of the stock market rally in 2025.

SPY

XLF

XLY