In November, the number of payrolls increased by 227,000, exceeding expectations, while the unemployment rate stood at 4.2%.

The Bureau of Labor Statistics reported on Friday that job creation in November rebounded from a near-standstill in October due to the effects of a significant labor strike and violent storms in the Southeast subsiding.

The number of nonfarm payrolls rose by 227,000 in November, surpassing the upwardly revised 36,000 in October and the Dow Jones consensus estimate of 214,000.

The unemployment rate increased to 4.2% as the labor force participation rate decreased and the labor force shrank. A broader measure that includes discouraged workers and part-time jobs for economic reasons also rose to 7.8%.

In recent years, the sectors that have consistently led payroll growth are health care (54,000), leisure and hospitality (53,000), and government (33,000).

Some stores may have held off hiring due to Thanksgiving coming later than usual, resulting in a 28,000 decline in retail trade heading into the holiday season.

The average hourly earnings of workers increased by 0.4% in the past month and 4% over the past year, both exceeding expectations by 0.1 percentage point.

Stock market futures edged higher after the report while Treasury yields were lower.

The labor market's condition is the subject of questions in the report, which may influence the Federal Reserve's decisions on interest rates.

Following the payrolls release, traders increased their bets on a rate cut, with market-implied odds rising above 88% for a quarter percentage point reduction. Central bank policymakers will make their next decision on Dec. 18.

This week, Fed Chair Jerome Powell stated that the economy's robust condition allows him and his colleagues to take a patient approach when making interest rate decisions. Other officials predict that additional interest rate cuts are probable but may be subject to modifications based on economic data changes.

Although inflation has decreased from its peak in mid-2022, recent months have seen prices increasing. Additionally, the October jobs report and other reports indicate a slowing labor market that is still expanding.

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