EXPLAINER: 5 key takeaways from the November jobs report
For nearly nine months, the Federal Reserve has relentlessly raised interest rates to try to slow the U.S. job market and bring inflation under control
By PAUL WISEMAN
Published - Dec 02, 2022, 02:10 PM ET
Last Updated - Jun 23, 2023, 08:43 AM EDT
WASHINGTON (AP) — For nearly nine months, the Federal Reserve has relentlessly raised interest rates to try to slow the U.S. job market and bring inflation under control.
And for just as long, the job market hasn’t seemed to get the message.
The November employment report the government issued Friday was no exception. Employers added 263,000 jobs — a substantial gain that was far above economists’ expectations. Wages rose robustly, too, further intensifying the inflationary pressures the Fed has been struggling to contain.
And the unemployment rate remained at 3.7%, barely above the half-century low of 3.5%.
