US Jobs Report - 210,000 Jobs Added in November

What Happened:

• According to the Labor Department, the US economy added 210,000 jobs in November, one of the weakest monthly gains over the last year and a steep drop-off after around 546,000 jobs were added in October.

• Concerns over inflation, a labor shortage and a still present pandemic may have contributed to the sluggish growth.

• Despite some of these concerns, unemployment dropped down to 4.2%, the lowest it has been since the start of the pandemic and 0.4% lower than last month.

• Overall, despite the mixed results, the US economy still looks to be heading in the right direction as consumer spending is still trending in a positive direction and the economy is forecast to expand at a 7% annual rate.

Photo Credit: Gerd Altmann

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