US economy added 227K jobs in November, above expectations
Published On Dec 6, 2024, 8:32 AM
The U.S. economy added 227,000 jobs in November, surpassing expectations. The unemployment rate rose slightly to 4.2%. Job gains in the previous two months were also revised upwards. The private sector saw an increase of 194,000 jobs, while notable gains were seen in health care, leisure and hospitality, and government sectors. Manufacturing employment recovered as some workers returned from strikes.
Stock Forecasts
XLY
Positive
Strong job growth indicates a robust economy, potentially leading to increased consumer spending and confidence. This could positively impact sectors tied to consumer discretionary spending and essential services, as employers invest in labor to meet demand.
UPS
Positive
Job growth, especially in the manufacturing sector, suggests a rebound from previous disruptions. Companies in transportation and manufacturing may see stock gains as supply chains stabilize and production ramps up.
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