November Jobs Report Released, Points To Rate Hike

Another month of steady job growth continues to pave the way for the Fed to hike interest rates next month for the first time in a decade.

US employers added 211k jobs for the month of November while the unemployment rate held steady at 5%, in line with analyst estimates, the Wall Street Journal reports.

Recent turmoil in the stock market and economic weakness overseas have apparently not shaken employers’ confidence as November’s solid numbers have lifted the average monthly job growth to 218k over the past three months, slightly ahead of last year’s pace.

The report is likely the last sign needed for Fed officials to move forward with a rate hike at their December meeting. Officials have made a strong case in recent weeks for raising rates from near zero, where they have stood since the crisis of 2008, but continue to focus on underlying trends that show the economy is improving[WSJ]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Wall Street Impatient For Big Tech Returns On Data Center Spending

As AI Adoption Ramps Up, Half A Million Property Managers Are In The Crosshairs

Treasuries Hover Around 4.7% As Wall Street Questions If Warsh Is A 'Dove In Hawk's Clothing'

Avison Young Had Assets Frozen By Bank Over Unpaid Taxes

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Churchill Downs Plans To Sell 9 Casinos, Focus On Horse Racing

Bringing Stability And Savings To CRE Insurance Through Working Layer

More Hotel Owners In Need Of Cash Are Getting It From The Big Brands

Former Arms Dealer Targeting Heartland Apartment Takeover Files For Bankruptcy

SEC Charges REIT, Its Founders With Alleged $152M Fraud Scheme

Equinix Ramps Up Spending Plans Amid Faster-Than-Expected AI Shift

Cortland, Pulte, INVH, Walker & Dunlop Execs Talk Changing Demographics, AI