Key Highlights:
- Job Growth: The U.S. economy added 227,000 jobs in November. This was a rebound from the lackluster October report, which saw only 12,000 jobs added due to labor disruptions from hurricanes and a major strike.
- Unemployment Rate: The unemployment rate ticked up slightly to 4.2% from 4.1% in October.
- U6 Measure: The broader U6 measure, which includes discouraged workers and those working part-time for economic reasons, climbed to 7.8%.
The unemployment rate rose to 4.2%, driven by a dip in the labor force participation rate and a 📉 in the labor force.
A broader measure U6, including discouraged workers for economic reasons, also 📈, reaching 7.8%. https://t.co/ujg22S3qBj
— The Coastal Journal (@1CoastalJournal) December 6, 2024
With payrolls failing to exceed 250K, we again saw an increase in U3 (& U6). https://t.co/XeCTCtKBlG
— Don Johnson (@DonMiami3) December 6, 2024
The BLS didn’t manage to create enough jobs out of thin air so unemployment still went up 😔 https://t.co/uWIEkU8aGU
— JustDario 🏊♂️ (@DarioCpx) December 6, 2024
The unemployment rate increased in the United States to 4.2%, while jumping +.3% in Canada to 6.8% #MacroEdge
— MacroEdge (@MacroEdgeRes) December 6, 2024
Household -300k
Establishment +200kHell of a gap.
Unemployment rate is off the household.Markets will use establishment as that fits the bullish narrative.
— Fenrir (@WolfoftheKirb) December 6, 2024
Sources:
https://www.bloomberg.com/news/live-blog/2024-12-06/us-employment-report-for-november
https://www.cnbc.com/2024/12/06/jobs-report-november-2024.html
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