November jobs report expected to show hiring rebound, unemployment holding steady at 4.1%

Published On Dec 6, 2024, 5:14 AM

The November jobs report is expected to indicate a hiring rebound with an estimated addition of 215,000 new jobs, maintaining the unemployment rate at 4.1%. This growth follows a disappointing October, which saw only 12,000 jobs added due to disruptions from hurricanes and a strike at Boeing. Goldman Sachs anticipates a substantial recovery in payrolls, attributing a portion of the growth to the end of worker strikes and the reversal of job losses caused by natural disasters. Despite a slowdown in the labor market, confidence remains, and economists expect the Federal Reserve will likely implement a quarter-point interest rate cut in December.