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US hiring rebounds after strikes, hurricanes led to slump
The Straits Times
|December 07, 2024
It adds 227,000 jobs in November, above forecast; average hourly earnings also rise
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WASHINGTON - The US economy added more jobs than expected in November, government data showed on Dec 6, bouncing back from a dramatic slowdown triggered by hurricanes and labour strikes.
The world's biggest economy gained 227,000 jobs in November, up from a revised 36,000 in October, said the US Department of Labour.
The overall jobless rate ticked up to 4.2 per cent from 4.1 per cent.
The rise in hiring was likely due to a return of Boeing workers and others who had gone on strike, and came as the cumulative impact of Hurricanes Helene and Milton faded.
There was probably also a temporary increase in retail employment during the holiday season, EY senior economist Lydia Boussour said in a recent note.
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