U.S. job growth strong in November; wages rise
STORY: The U.S. Labor Department's closely watched jobs report on Friday showed employers hired more workers than expected in November, adding 263,000 jobs even as layoffs in the tech industry made headlines last month.
The continued strength in the U.S. labor market comes despite mounting worries of a recession and in the face of steep interest rate hikes from the Federal Reserve as it battles high inflation.
Daniel Zhao is lead economist at Glassdoor.
"We are still seeing that employers are hiring, even though there have been prominent reports of layoffs and hiring freezes. Overall, we are still seeing job gains, especially in wages, in hospitality and health care... we know that there are some headwinds facing the American economy and there are concerns about a recession, especially in 2023. But the signals that we're getting from the job market, this doesn't look like a job market that is about to tip into recession. Overall, things still do look healthy there. Even though things are clearly cooling, they are clearly decelerating. The job market is still a bright spot for the economy."
The unemployment rate held steady at 3.7% and Friday's report also showed an unexpected jump in average hourly earnings.
Zhao said the jump in wages might be a speed bump for the Fed but won't alter the course in its drive to bring down inflation.
"I think the Fed looks at today's report and it doesn't really change their perspective about what the trajectory of the job market looks like. We did see wage growth tock up a little bit in November and that might be a speed bump on the Fed's path towards a soft landing. But, overall, they still see a job market that is resilient in the near term but is decelerating. So, ultimately, what the Fed is watching for is to see inflation start to come down while the job market is still resilient and can withstand that tiger monetary policy."
Wall Street's main indexes opened lower on Friday as the jobs report disappointed investors who have been worried about aggressive interest rate hikes by the Fed. But stocks had recovered some early losses by midday.
相關影片推薦
- 1:18美馬戲團大象逃脫 穿梭車陣民眾驚呼 馬路秒變野生動物園Yahoo奇摩(國際通)31,746 次觀看・1 天前
- 6:11強震來臨這3個縣市最危險 李鴻源曝災防都更因「票房毒藥」難行今天誰來沛244,448 次觀看・1 天前
- 1:53加拿大史上最大黃金盜竊案逮6人 加航「內鬼」偽造空運單 400公斤黃金恐已熔化售出Yahoo奇摩(國際通)37,172 次觀看・1 天前
- 1:13柯建銘質詢一半突喊「我看不到」計時器 透露眼睛病變華視影音8,032 次觀看・1 天前
- 2:02英國女遊台南「喝全糖珍奶」 嚇壞驚呼:天大錯誤華視影音313,723 次觀看・2 天前
- 1:1126歲抗癌網紅因胃癌去世 生命最後5個月沒吃沒喝娛樂星聞59,164 次觀看・2 天前
- 1:15謝和弦不認偷吃陳芳語嗆前妻記錯人!自爆出軌對象是「她」秒遭Keanna打臉娛樂星聞14,005 次觀看・18 小時前
- 23:55台積電法說會登場 投資人關心加碼美國新廠風險 但面對拜登和川普搶當美國保護主義隊長 川普幕僚密謀促貶美元 拜登祭301調查要提高中國商品關稅 台積電等於買了保險|鏡轉全球 #鏡鏡新聞1,044 次觀看・20 小時前
- 1:17情侶吵架「氣到跳車」 女友摔翻滾5圈慘死|#鏡新聞鏡新聞2,384 次觀看・1 天前
- 1:41土耳其「身障狗狗列車」出動 天天載毛孩外出兜風、感受世界風光Yahoo奇摩(國際通)62,855 次觀看・1 天前