Fed on track to cut rates: Wall Street’s view of jobs data

Timothy MooreBefore the Bell editor

Dec 7, 2024 – 3.00am

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The US economy added 227,000 jobs in November, slightly higher than consensus, as the impacts from two hurricanes and a strike at Boeing faded. October’s increase was revised to 36,000 from an initial 12,000.

The jobless rate edged up to 4.2 per cent from 4.1 per cent in both October and September. As for average hourly earnings, they rose 0.4 per cent, matching October’s rise. In the 12 months through November, wages were up 4.0 per cent, also matching October’s data.

Timothy Moore writes on equities, commodities and monetary policy. He writes Before the Bell and contributes to the Markets Live blog.