Job growth was much better than expected in November despite the Federal Reserve's aggressive efforts to slow the labor market and tackle inflation. CNBC
35% of Millionaires Say It's ‘Going to Take a Miracle' to Be Ready for Retirement, Report Finds
"To have 263,000 jobs added even after policy rates have been raised by some [375] basis points is no joke," said Seema Shah, chief global strategist at Principal Asset Management."The labor market is hot, hot, hot, heaping pressure on the Fed to continue raising policy rates."Other sector gainers included health care , government and other services, a category that includes personal and laundry services and which showed a total gain of 24,000.
The numbers come as the Fed has raised rates half a dozen times this year, including four consecutive 0.75 percentage point increases. "The Fed is tightening monetary policy but somebody forgot to tell the labor market," said Fitch Ratings chief economist Brian Coulton."The good thing about these numbers is that it shows the U.S. economy firmly got back to growth in the second half of the year. But job expansion continuing at this speed will do nothing to ease the labor supply-demand imbalance that is worrying the Fed.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
November jobs report: Unemployment rate held steady at 3.7% with 263,000 jobs addedThe most recent jobs report showed that payrolls stayed strong at 263,000. Unemployment held at 3.7%, according to the Labor Department.
Leer más »
November Jobs Report On Deck as Powell Confirms Slower Pace of Rate HikesTraders will closely watch the jobs report on Friday as they still see a 33% chance that the Federal Reserve raises interest rates by 75 basis points this month. HeleneBraunn reports
Leer más »
November Employment Report Shows U.S. Economy Added 263,000 JobsThe U.S. economy added 263,000 jobs in November, a sign of a continued strength in the labor market. The jobless rate remained at 3.7%.
Leer más »
U.S. likely added 200,000 jobs in November, fewest in two yearsBusinesses are filling fewer open jobs and inflation has started to wane --- but not fast enough for the Federal Reserve. The central bank wants the labor...
Leer más »
Bitcoin Slips as US Economy Added a Strong 263K Jobs in NovemberJUST IN: U.S. employers added 263K jobs in November topping expectations for just 200K as the job market continues to show strength. bitcoin prices are slipping below $17K on the news. HeleneBraunn reports
Leer más »