US Job Market Surges with 227,000 New Jobs in November #

The US economy experienced a notable boost in November, adding 227,000 jobs to the labor market. This increase contrasts sharply with October, which saw a revised total of only 36,000 jobs. The lower October numbers were impacted by external factors, specifically the effect of two major hurricanes that hindered data collection in parts of the Southeast and a strike involving workers at Boeing.

Despite this job growth, the unemployment rate saw a slight increase, rising to 4.2% in November from 4.1% the previous month. This marks the first instance since 2021 that the unemployment rate has been at or above 4% for six months straight.