ReutersFinancial TimesAP News📊 Key Results from the Latest NFP Report
November 2025 Non-Farm Payrolls:
Jobs Added: +64,000 — slightly above the consensus forecast of ~50,000.
Unemployment Rate: rose to 4.6%, highest since 2021.
Labor Market Trend: Payroll employment has shown little net change since April, signaling a weak jobs trend.
👉 Note: The November data release was delayed due to a prolonged federal government shutdown, adding noise to comparisons with prior months.
📉 Interpretation of the Data✅ Mixed But Soft Labor Market
Payrolls beating the forecast (+64K vs ~50K) is technically positive, but the rate of hiring is slow, averaging only a few tens of thousands per month.
Unemployment rising to 4.6% suggests more slack in the labor market, meaning employers are hiring less aggressively.
🏦 Federal Reserve Implications
The weak employment growth and higher jobless rate support the Fed’s recent dovish approach (interest rate cuts earlier in 2025) and could keep the Fed cautious on future hikes.
Markets now see lower pressure for aggressive monetary tightening and potentially even more easing if labor weakness persists.
💹 Market Reactions (Today)💵 U.S. Dollar (USD)
A softer jobs market often weakens expectations for Fed tightening, which can cap gains in the U.S. dollar versus other currencies.
However, beating expectations can limit USD declines if other data (like inflation) remains stable.
📈 Equities
Stocks are mixed: weaker labor data supports risk assets (easing fears of tight Fed policy) but also signals slower economic growth.
🪙 Crypto & Risk Assets
Crypto markets often rally when the Fed is expected to stay dovish or cut rates, as it tends to boost liquidity, although broader economic weakness keeps sentiment cautious.
@Igor Freitas - BNB Brasil Ambassador