US jobs market resilience; November figures beat estimates

05 December 2022

 

Summary: Non-farm payrolls up 263,000 in November, greater than expected; previous two months’ figures revised down by 23,000; jobless rate steady at 3.7%, participation rate slips to 62.1%; US jobs market “showing a lot of resilience”; jobs-to-population ratio slips to 59.9%; underutilisation rate down from 6.8% to 6.7%; annual hourly pay growth up from 4.9% to 5.1%. The US economy ceased producing jobs in net terms as infection controls began...

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