The U.S. added 227,000 jobs in November, as hiring recovers from storms and a strike

Job creation in November rebounded from a near-standstill the prior month as the effects of a significant labor strike and violent storms in the Southeast receded, the Bureau of Labor Statistics reported Friday.

Job creation in November rebounded from a near-standstill the prior month as the effects of a significant labor strike and violent storms in the Southeast receded, the Bureau of Labor Statistics reported Friday.

Nonfarm payrolls increased by 227,000 for the month, compared to an upwardly revised 36,000 in October and the Dow Jones consensus estimate for 214,000. September’s payroll count also was revised upward, to 255,000, up 32,000 from the prior estimate. October’s number was held back by impacts from Hurricane Milton and the Boeing strike.

The unemployment rate edged higher to 4.2%, as expected. The jobless figure rose as the labor force participation rate edged lower and the labor force itself declined. A broader measure that includes discouraged workers and those holding part-time jobs for economic reasons edged higher to 7.8%.

The data likely gives the Federal Reserve a green light to lower interest rates later this month.

“The economy continues to produce a healthy amount of job and income gains, but a further increase in the unemployment rate tempers some of the shine in the labor market and gives the Fed what it needs to cut rates in December,” said Ellen Zentner, chief economic strategist at Morgan Stanley Wealth Management.

https://www.nbcnews.com/business/economy/us-added-227000-november-expected-rcna183156

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