US job market “slowly softening”; beats expectations in Nov

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06 December 2024

 

Summary: US non-farm payrolls up 227,000 in November, above expectations; previous two months’ figures revised up by 56,000; jobless rate ticks up to 4.2%, participation rate slips to 62.5%; Westpac: US labour market conditions slowly softening; US Treasury yields fall; expectations of Fed rate cuts harden; employed-to-population ratio falls to 59.8%; underutilisation rate ticks up to 7.8%; annual hourly pay growth steady at 4.0%. The US economy ceased producing jobs...

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