Egypt Daily News – Job growth in the United States accelerated last November after it was severely affected by Hurricanes Helen and Milton and a strike at Boeing, but this likely did not cause a significant shift in labor market conditions, which continue to improve steadily, allowing the Federal Reserve (the US central bank) ) to cut interest rates again this month.
The US Department of Labor said in its jobs report on Friday that non-farm payrolls increased by 227,000 last month after data for last October was revised upward to increase by 36,000 jobs.
Economists polled by Reuters expected jobs to rise by about 200,000 last month after an increase of 12,000 in October 2024, and the unemployment rate rose to 4.2% after stabilizing at 4.1% for two consecutive months. Average hourly wages increased 0.4% after rising 0.4% in October 2024.
