U.S. UNEMPLOYMENT RATE (NOVEMBER): 4.6% | Expectations: 4.5% | Previous: 4.4%

NONFARM PAYROLLS (NOVEMBER): +64,000 | Expectations: +50,000 | Previous: +119,000

HOURLY EARNINGS: +3.5% | Expectations: 3.6% | Previous: 3.8%

🔸 U.S. employment increased by 64,000 in November, higher than forecast, after losing 105,000 jobs in October due to government sector layoffs and data disruptions.

🔸 The unemployment rate rose to 4.6%, the highest since 2021, indicating the labor market is cooling down, though still creating jobs.

🔸 Overall job growth remains weak, mainly driven by healthcare and construction, while transportation and leisure services continue to lose jobs.

🔸 Wages grew at a slower pace, with hourly income increasing by only 0.1% this month and 3.5% year-over-year, helping to ease inflation pressures.

🔸 The Fed is unlikely to react strongly to this report as the data is affected by the government shutdown. The market still considers the chance of rate cuts in January to be low.