US economy adds 263K jobs in November, as hiring remains solid

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FHN Financial chief economist takes a closer look at consumer confidence falling for the second straight month on ‘Making Money.’

U.S. job growth rose faster than expected in November as the labor market remained resilient in the face of higher interest rates, scorching-hot inflation and mounting recession fears.

Employers added 263,000 jobs in November, the Labor Department said in its monthly payroll report released Friday, topping the 200,000 jobs forecast by Refinitiv economists. It marks a slight deceleration from the upwardly revised job gain of 284,000 recorded in October.

The unemployment rate, meanwhile, held steady at 3.7%.

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