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MNI BRIEF: US Nov Jobs Beat Expectations; Wage Growth Surges

(MNI) WASHINGTON

Employers added 263,000 jobs, beating expectations for 200,000, while growth surged 0.6%.

U.S. employers added 263,000 jobs in November, more than analyst expectations for 200,000, while the unemployment rate held steady at 3.7% and wage growth surged 0.6% on the month, the Bureau of Labor Statistics reported Friday.

Average hourly earnings grew 5.1% through the year. Fed Chair Jerome Powell and Federal Reserve officials are looking for wage gains to slow as they raise interest rates.

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U.S. employers added 263,000 jobs in November, more than analyst expectations for 200,000, while the unemployment rate held steady at 3.7% and wage growth surged 0.6% on the month, the Bureau of Labor Statistics reported Friday.

Average hourly earnings grew 5.1% through the year. Fed Chair Jerome Powell and Federal Reserve officials are looking for wage gains to slow as they raise interest rates.

Keep reading...Show less