The U.S. job market rebounded in November after a major slowdown, according to data released Friday by the Labor Department.
The U.S. added 227,000 jobs last month and the jobless rate ticked slightly higher to 4.2 percent, marking a significant improvement from a weak October jobs report. The U.S. added just 24,000 jobs in October, according to revised figures released Friday.
Economists expected the U.S. to add roughly 200,000 jobs in November and for the jobless rate to hold at 4.1 percent, according to consensus estimates.
The November jobs report comes a week before the Federal Reserve is set to meet for the final time this year. Fed officials are expected to cut interest rates one more time before the end of a year in which inflation fell sharply back toward the central bank’s 2 percent target.
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