US jobs growth tops expectations in November, October figures show contraction

(Sharecast News) - October and November's non-farm payrolls figures were in focus early on Tuesday, with last month's report revealing the US added 64,000 jobs in November, while October's delayed print pointed to a loss of 105,000. According to the Bureau of Labor Statistics, employment rose in both healthcare and construction in November, while the federal government continued to shed jobs. The change in total non-farm payroll employment for August was downwardly revised to -26,000, while the change for September was revised lower by 11,000 too +108,000.

November's headline reading was ahead of market expectations of a more modest increase of 50,000.

In November, both the unemployment rate and the number of unemployed people, at at 4.6% and 7.8m, respectively, were little changed from September. However, both were higher when compared to last November, when the jobless rate was 4.2% and the number of unemployed people was 7.1m. Consensus forecasts had the unemployment rate edging up to 4.5% from 4.4%.







Reporting by Iain Gilbert at Sharecast.com