Published on: 2025-12-16
November NFP
16/12/2025 (Tuesday)
Previous: / Forecast: 40K
Investors closely watch data released soon because it comes after weeks of delays in official statistics caused by this fall's government shutdown. It will also come at a pivotal juncture for the Federal Reserve, which is balancing elevated inflation with mounting downside risks to the jobs picture.
The report will be unusual in that it will include data for November and some data for October. Overall, economists are expecting 40,000 jobs added for November. They expect the unemployment rate to remain at 4.4%, unchanged from September. Payroll data for October is expected to show significant losses in government jobs stemming from buyouts of federal workers. Data related to the unemployment rate in October will not be released.
Economist forecasts suggest the labor market has continued cooling over the past two months. They say a continuation of September's surprisingly solid growth (with 119,000 jobs added overall) is unlikely, and they emphasize that the strong headline figure may indeed be revised down .
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