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February 28, 2024
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Business Politics

U.S. job growth misses expectations in November; unemployment rate dives to 4.2%

Published by
Reuters

By Lucia Mutikani WASHINGTON (Reuters) – U.S. employment increased far less than expected in November, likely as millions of unemployed Americans remained home despite companies boosting wages, generous jobless benefits expiring and schools fully reopening. Nonfarm payrolls increased by 210,000 jobs last month, the Labor Department said in its closely watched employment report on Friday. Economists polled by Reuters had forecast payrolls advancing by 550,000 jobs. Estimates ranged from as low as 306,000 to as high as 800,000 jobs. November was the second full month of hiring following the expi…

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