TechFlow news — On December 6, U.S. job growth surged sharply in November after being severely disrupted by hurricanes and strikes. However, this may not signal a substantial shift in labor market conditions. Employment is still expected to slow steadily, allowing the Federal Reserve to cut interest rates again this month. The U.S. Labor Department's nonfarm payrolls report released Friday showed that 227,000 jobs were added in November, while October’s figure was revised upward to 36,000. The unemployment rate rose to 4.2% after holding at 4.1% for two consecutive months. Average hourly earnings remained unchanged from last month at 0.4%. With the economy continuing to expand at a healthy pace, inflation running above the central bank’s 2% target, and policy uncertainty surrounding President-elect Trump’s incoming administration, the outlook for further rate cuts in 2025 remains unclear. Traders are betting on two more rate cuts next year, with over a 50% chance of a third cut by the end of 2025. (Jinshi)
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