Jake Starkey
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www.msn.com/en-us/news/us/us-unemployment-rose-in-november-despite-job-gains/ar-AA1Ss7mt?ocid=msedgntp&pc=BINBAN&cvid=69419d131b544f67ac25b0b2822a38b8&ei=60
The U.S. unemployment rate rose to 4.6% in November, its highest in more than four years, fueling questions about the economy’s underlying strength.
A long-delayed government report on Tuesday showed that 64,000 jobs were gained in November, while 105,000 jobs were lost in October. Job losses in June, August and October mean the U.S. economy has shed jobs in three out of the past six months.
The unemployment rate in November was up from 4.4% in September, the last month the Labor Department reported for that metric.
Still, market reaction was muted. Major stock indexes traded moderately lower.
Stephen Stanley, chief U.S. economist for Santander US, said there could have been “a lot of statistical noise” in the report, including possible distortions from the government’s long closure. The shutdown prevented the Labor Department from collecting some of the jobs-market data that it normally would have...
“Given the contrasting signals from payrolls and the unemployment rate, you’d hope to get a cleaner read in December,” Stanley said.
“What I can conclude is that we’re not falling off a table,” he added.
The U.S. unemployment rate rose to 4.6% in November, its highest in more than four years, fueling questions about the economy’s underlying strength.
A long-delayed government report on Tuesday showed that 64,000 jobs were gained in November, while 105,000 jobs were lost in October. Job losses in June, August and October mean the U.S. economy has shed jobs in three out of the past six months.
The unemployment rate in November was up from 4.4% in September, the last month the Labor Department reported for that metric.
Still, market reaction was muted. Major stock indexes traded moderately lower.
Stephen Stanley, chief U.S. economist for Santander US, said there could have been “a lot of statistical noise” in the report, including possible distortions from the government’s long closure. The shutdown prevented the Labor Department from collecting some of the jobs-market data that it normally would have...
“Given the contrasting signals from payrolls and the unemployment rate, you’d hope to get a cleaner read in December,” Stanley said.
“What I can conclude is that we’re not falling off a table,” he added.
