United States: Job creations exceeded expectations in November

(Reuters) – The U.S. economy added more jobs than expected in November and year-on-year wage growth also beat expectations while the jobless rate held steady, data released by the department on Friday showed. work.

According to the data, 263,000 non-farm payrolls were created last month after 284,000 (revised from 261,000) in September.

Economists polled by Reuters predicted an average of 200,000 job creations, their estimates ranging from 133,000 to 270,000.

The unemployment rate remained stable at 3.7%, as in October and as expected by the Reuters consensus.

The average hourly wage rose in November by 0.6%, against a consensus of +0.3% and a gain of 0.5% in October (revised). Over one year, it posted an increase of 5.1%, against an increase of 4.6% expected and a rise of 4.9% in October (revised).

Ahead of the open on Wall Street, index futures amplified their losses on reading the numbers, shedding 1% to 2.2% as a buoyant labor market is likely to deter the Fed from cutting inflation. extent of its rate hikes.

Prior to the release of the jobs report, markets were pricing a 91% chance of a rate hike limited to 50 basis points at the central bank’s monetary policy meeting in mid-December. That probability rose to 87% after the statistics were released, according to the Fedwatch Real-Time Barometer.

(Written by Claude Chendjou, edited by Jean-Stéphane Brosse)

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