November Jobs Report Shows Gain of 227,000; Unemployment Rises
Published On Dec 6, 2024, 5:04 AM
The U.S. economy added 227,000 jobs in November, following disruptions from storms and strikes. This suggests a rebounding job market, with a three-month average job gain of 173,000. Despite a slight uptick in the unemployment rate to 4.2%, wages rose by 4% year-over-year. The overall economic sentiment is positive as inflation is declining and layoffs are low, leading to increased consumer confidence.
Stock Forecasts
XLY
Positive
With job growth rebounding and wages increasing, consumer spending is likely to rise, benefiting sectors such as leisure, hospitality, and retail. The positive consumer sentiment also suggests a favorable environment for economic recovery.
RTH
Negative
Despite strong job additions, the slight increase in unemployment could weigh on investor sentiment, especially for sectors reliant on consumer spending. Companies in the retail sector may face challenges given the loss of retail jobs reported.
Related News
US economy added 227K jobs in November, above expectations
Dec 6, 2024, 8:32 AM
The Labor Department on Friday released the much anticipated November jobs report, which showed the economy added 227,000 jobs, while the unemployment rate ticked up.
Jobs Report Live Updates: U.S. Adds 227,000 Jobs in November
Dec 6, 2024, 6:05 AM
The labor market added 227,000 jobs, a big rebound from October, when storms in the Southeast and a major strike disrupted work. The unemployment rate ticked up slightly to 4.2 percent.
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.