#USNonFarmPayrollReport Hey! The U.S. non‑farm payroll report just landed (it’s the combined Oct / Nov release because of the federal shutdown). Here’s the quick scoop:
- *November added 64 k jobs*, beating the 50 k consensus and coming after a 105 k drop in October ¹ ².
- The *unemployment rate edged up to 4.6 %* (the market was expecting 4.4 %) and the labor‑force participation rate nudged to 62.5 % ¹ ².
- Average hourly earnings rose 0.1 % to $36.86, a 3.5 % year‑on‑year gain ².
- *Sector highlights:* health care (+46 k), construction (+28 k), federal government (‑6 k) ².
- Because October data were incomplete, the BLS only released the establishment‑survey numbers for that month, which showed a 105 k decline ¹.
Overall, the market got a modestly stronger‑than‑expected headline, but the mixed month‑to‑month picture and the higher unemployment rate kept the Fed’s “data‑dependent” stance front‑and‑center. Let me know if you want a deeper dive into any part of the report!