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November’s nonfarm payrolls report fell well below economist expectations. Many see it as the tipping point for stimulus talks.
The Bureau of Labor Statistics said Friday that the US added 245,000 jobs last month, down from the revised 610,000 additions in October. Economists surveyed by Bloomberg expected 460,000 new payrolls. The unemployment rate fell to 6.7% from 6.9%, meeting estimates but marking the smallest improvement since the pandemic began.
Though the report shows a seventh straight month of job gains, it will take roughly four years to reach pre-pandemic employment if hiring continues at its November details ⇒
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