Economists predict continued modest growth next year, with job gains slowing to 113,000 per month
The US labor market added 227,000 jobs in November, as storm-sidelined workers returned and striking Boeing employees resumed work.
In line with expectations, the growth helped push the S&P 500 and Nasdaq to record highs, though the Dow slipped.
The report showed that October’s weak job numbers were mainly due to weather disruptions and strikes.
The unemployment rate rose slightly to 4.2%, while hourly earnings increased by 4%.
Leisure, hospitality and healthcare sectors saw notable job gains, while retail shed 28,000 jobs.
Economists predict continued modest growth next year, with job gains slowing to 113,000 per month.