Source: US Bureau of Labor Statistics
The US economy added back lesser jobs than anticipated in November as the unemployment rate dropped further than estimated to the lowest since February 2020. DXY up +0.04%, EUR USD up +0.04%
- Non-farm payroll employment increased by 210,000 jobs in November after rising by an upwardly revised 546,000 jobs in October. Economists had estimated an increase of 550,000 jobs.
- Service sector employment growth did not slow down significantly in November compared to October.
- The leisure and hospitality industries added only 23,000 payrolls after October’s gains of 170,000.
- Retail trade employers shed payrolls, with the figures dropping by over 20,000 after job gains of around 40,000 in October and September.
- Despite the much weaker-than-estimated job growth, the unemployment rate edged down to 4.2% in November from 4.6% in October. Economists had anticipated the unemployment rate to drop to 4.5%.