The US labor market shows signs of slowing down in November 2025, with a moderate gain of 64,000 jobs, below expectations. The unemployment rate has risen to 4.6%, the highest since 2021. Healthcare and construction drove growth, while federal government employment declined. Wage growth remains strong, with a 0.30% increase in average hourly earnings. The Federal Reserve is expected to maintain a conservative stance on rate increases to balance inflation control and labor market resilience
