According to Yahoo News, job growth in the US was stronger than expected in November, partially due to striking workers in Hollywood and the car industry returning to work. The Labor Department reported that employers added 199,000 jobs during the month, which contributed to a decrease in the unemployment rate to 3.7% - the lowest level since July - even as more people entered the workforce. The monthly report is being closely monitored as the US central bank attempts to cool the economy to stabilize prices.
Investors are increasingly speculating that the Federal Reserve has done enough and may even begin to reverse course next year after raising interest rates to the highest level in over two decades. While the latest figures are positive news for job seekers, analysts believe that debates over the central bank's next move will persist. Richard Flynn, managing director at Charles Schwab UK, commented that recent economic data has suggested a potential cooling of the labor market, but the current figures may delay hopes for a Fed rate cut. He added that the current job report does not reflect the cooling that the market is likely hoping for.
