The U.S. economy added 199,000 jobs in November, exceeding expectations and signaling that businesses are still hiring despite signs of a slowing economy. The unemployment rate declined to 3.7%, the lowest rate since 1969, and average hourly earnings increased by 0.4% for the month and 4% from a year ago. The strong job growth and low unemployment rate are positive signs for the economy, but the Federal Reserve will be closely watching the data to determine the best course of action.
Posts tagged as “Dow Jone”
The U.S. economy saw job growth slow more than expected in October, with nonfarm payrolls increasing by 150,000 and the unemployment rate rising to 3.9%. The report confirms expectations of a slowdown in job growth, and could signal further slowing in the coming months. The Federal Reserve's third interest rate cut this year in October may take some heat off in its fight against inflation.
President Joe Biden has shown his commitment to protecting the rights of journalists by calling the family of Wall Street Journal reporter Evan Gershkovich, who has been wrongfully detained in Russia. The Biden administration has also designated Gershkovich’s case as a priority and Biden is expected to discuss the matter with Russian President Vladimir Putin when they meet in Geneva. As Biden embarks on his trip to Ireland and the United Kingdom, he is likely to continue to advocate for the release of Gershkovich and other journalists wrongfully detained around the world.
Secretary of State Antony Blinken has expressed grave concern over the detention of Wall Street Journal reporter Evan Gershkovich in Russia on espionage charges, and has called for his immediate release. The Journal and Dow Jones have denied the unsubstantiated allegations and the U.S. government is closely monitoring the situation, with the safety and security of American citizens around the world a top priority.