The US economy created 263,000 jobs in November, higher than expected.


According to data from the US Department of Labor on December 2, the US economy added 263,000 jobs in November 2022, while the unemployment rate stood at 3.7%. More than 200,000 new jobs were expected and the unemployment rate stood at 3.7%.

Average hourly earnings increased 0.6 percent month-on-month, more than double expert estimates. Wages rose 5.1% year-on-year, also above expectations of 4.6%.

Strong job data will reduce the possibility of the Fed raising interest rates to slow down the process of fighting inflation.

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