November Jobs Report: 266,000 jobs added

In a nutshell:

  • Nonfarm payrolls surged by 266,000 in November, better than the 187,000 expected by economists polled by Dow Jones.
  • The unemployment rate ticked down to 3.5% from 3.6%, back to the 2019 low and matching the lowest jobless rate since 1969.
  • The end of the GM strike had a big effect, boosting employment in motor vehicles and parts by 41,300, part of an overall 54,000 gain in manufacturing.
  • Average hourly earnings rose by 3.1% from a year ago, slightly above the 3% expected by economists polled by Dow Jones.

CNBC:

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