The unemployment rate stayed near a 53-year low.
Washington — The nation’s employers kept hiring briskly in November despite high inflation and a slow-growing economy — a sign of resilience in the face of the Federal Reserve’s aggressive interest rate hikes.
The strength of November’s hiring gain will raise concerns that the Fed may now have to keep rates high even longer than many had assumed. The reaction on Wall Street was immediate, with Dow Jones Industrial Average futures tumbling nearly 400 points. After having contracted in the first six months of the year, the U.S. economy expanded at a brisk 2.9% annual rate last quarter. In addition to strength from consumer spending, a spike in exports helped boost growth.
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