The Bureau of Labor Statistics published new employment data. Here's how unemployment and job growth looked in November.

"The US added 64,000 jobs in November, exceeding the expected 50,000, and unemployment ticked up from September, the last available rate, to 4.6%. Economists expected the unemployment rate to be 4.5%, just above September's 4.4%. The Bureau of Labor Statistics won't be publishing an October unemployment rate because the agency wasn't able to survey households during the government shutdown that lasted from October to roughly mid-November."

"However, BLS was still able to produce October job growth figures because the data comes from a separate survey of businesses and government agencies. October showed a decline of 105,000 jobs, largely from a sharp drop in federal government employment of 162,000 workers that month who were formally coming off the payrolls after the DOGE-fueled job cuts earlier this year. The BLS delayed the November report from December 5 to December 16 to help with data collection and processing."

"The Federal Reserve made its last rate decision of the year last week, without the November jobs report or the consumer price index report, which has also been delayed. Using other available data to gauge the economy and its dual mandate, the Fed made a third consecutive interest-rate cut. "This further normalization of our policy stance should help stabilize the labor market while allowing inflation to resume its downward trend toward 2% once the effects of tariffs have passed through," said Federal Reserve chair Jerome Powell at last week's press conference."

US payrolls increased by 64,000 in November, above expectations of 50,000. The unemployment rate rose to 4.6%, with economists having expected 4.5%. The Bureau of Labor Statistics could not publish an October household unemployment rate because it could not survey households during the government shutdown from October to roughly mid-November. The BLS produced October job figures from a separate business survey, which showed a 105,000 decline driven mainly by a 162,000 drop in federal government employment tied to earlier DOGE-fueled payroll reductions. The November report was delayed to improve data collection and processing, increasing potential statistical noise.

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