The November jobs report came out this morning. The news was better than expected, with non-farm payrolls up by 227,000 in November, 13,000 higher than the Dow Jones consensus.
Most of the gains were in healthcare, leisure, hospitality and government. The downside was that the unemployment rate increased to 4.2% while the labor force participation rate moved slightly lower. The results suggest the Federal Reserve will cut interest rates later in December.
