Just as Expected: U.S. Job Growth Surpasses Expectations with 199K Increase, Easing Recession Fears

The November jobs report, showing 199K new jobs and a drop in unemployment to 3.7%, surpassed expectations but raises accuracy concerns. Past reports have seen downward revisions, suggesting this month’s figures may also be adjusted later. The report includes a significant portion of returning strikers, skewing the job growth data, and highlights a 0.4% increase in average hourly earnings. However, the overall reliability of these figures remains questionable due to the pattern of subsequent corrections.