Initial unemployment claims hit highest level since September, and Federal Reserve Chair Jerome Powell warns official data could be overestimating job creation by up to 60K jobs a month
With 7.24M Americans out of work in July and payroll growth slowing to an average of 35K jobs a month, the Fed is expected to pivot from fighting inflation to preserving jobs
Investors who fund most home loans are now convinced that the Federal Reserve won't cut rates again until June after employers add 256K jobs and unemployment falls to 4.1%
Employers added 227,000 workers to their payrolls in November, but with 7.1 million Americans out of work, the unemployment rate is back up to 4.2%, the Bureau of Labor Statistics reports