U.S. Economy Adds 227,000 Jobs in November, Unemployment Rate Rises to 4.2 Percent as Labor Market Rebounds
The U.S. economy added more jobs than forecast in November while the unemployment rate ticked higher as the labor market rebounded from a month negatively impacted by severe weather and labor strikes.
The U.S. economy added more jobs than forecast in November while the unemployment rate ticked higher as the labor market rebounded from a month negatively impacted by severe weather and labor strikes.
Data from the Bureau of Labor Statistics released Friday showed 227,000 new jobs were created in November, just above the 220,000 expected by economists. The unemployment rate increased to 4.2%.
Hurricanes and a strike by Boeing (BA) workers weighed heavily on the October report, which was revised to show there were 36,000 jobs created last month. The unemployment rate stood at 4.1% in October.
Job growth for September was also revised higher on Friday, with revisions now indicating the US economy added 56,000 more jobs than initially reported over those two months.
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