Job creation in the United States in November was lower than expected; Unemployment rate drops to 4.2% – News

WASHINGTON (Reuters) – Job creation in the United States has been lower than expected in November as millions of unemployed Americans may have stayed home despite corporate pay rises, expiring unemployment benefits and the full reopening of schools.

The Department of Labor said in its jobs report on Friday that 210,000 jobs were created outside the agricultural sector last month. Economists consulted by Reuters expected 550,000 jobs to be created. Estimates range from 306,000 to 800,000 jobs.

He was hired for the second full month of November, following the end of the US government-funded unemployment benefits in early September. October data was revised upwards to show 546,000 jobs instead of the previously announced 531,000.

The unemployment rate fell to 4.2%, up from 4.6% in October, after February 2020. Wages increased further. The report comes days after Federal Reserve Chairman Jerome Powell told lawmakers that the US Federal Reserve should accelerate its massive bond purchases at its December 14-15 monetary policy meeting.

(By Lucia Muttigani)

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