The U.S. labor market added 199,000 jobs in November, while the unemployment rate fell to 3.7% from 3.9%.
The jobs market surprised to the upside, with more jobs than economists anticipated, easing concerns that the labor market is rapidly cooling.
Among the sectors that saw the biggest wage gains: health care (+77,000) and government (+49,000). The manufacturing sector added 28,000 jobs, reflecting the return of striking auto workers.
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