The U.S. added 227,000 jobs in November, setting in motion potential Fed rate cuts in December

Published On Dec 6, 2024, 3:46 PM

In November, the U.S. economy added 227,000 jobs, surpassing expectations, although the unemployment rate slightly increased to 4.2%. Despite positive job growth primarily in health care and government sectors, there is a noted softness in the labor market, indicated by a decrease in overall employment and a rise in long-term unemployment. The Federal Reserve is expected to consider rate cuts influenced by these mixed labor market indicators, as well as an upcoming inflation report. Consumer sentiment has shown improvement but remains variable across political lines, reflecting concerns over future economic conditions.