Published on: 2026-01-09
December NFP
9/1/2026 (Fri)
Previous: 64k Forecast: 55k
The pace of US job growth rebounded in November after a drop in the prior month, but the unemployment rate increased to 4.6%, indicating the labour market continues to show signs of softening.
Hiring is still expanding, but the momentum that defined the post-pandemic recovery is clearly fading. The focus is shifting away from whether the slowdown is real and towards how quickly monetary policy will respond.
Wage growth adds to the picture of easing pressure with average hourly earnings slowing to 3.5% from 3.7%. Looking ahead, economists expect labour market cooling to persist into early 2026 rather than reverse.

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