(Bloomberg) -- Here are five key takeaways from the US employment report for November, released Friday. Click here for our TOPLive blog:
- Nonfarm payrolls increased 227,000 last month, following an upwardly revised 36,000 gain in October; the unemployment rate edged higher to 4.2% from 4.1% and wages rose by more than forecast. The Black unemployment rate jumped to 6.4% from 5.7% while Hispanic unemployment went up to 5.3% from 5.1%.
- The rebound likely reflects swings related to a Boeing Co. strike and hurricanes that skewed the October data; hiring was led by health care and social assistance, as well as leisure and hospitality and government.
- Despite the onset of the Holiday season, retail trade cut 28,000 jobs the most jobs in a year, while durable goods manufacturing jobs jumped by 26,000 upon the conclusion of the Boeing strike.
- While overall manufacturing employment rose due to an extra 32,000 transportation equipment roles, the sector was otherwise mixed; the semiconductor and electronic component sector lost 3,500 jobs.
- Treasury yields slid and S&P 500 index futures rose, while the dollar declined. Traders upped bets on a Fed rate cut later this month.
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