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WEKU
WEKU
Scott Horsley

The U.S. gained 263,000 jobs last month. It's good news for workers, but not the Fed

A builder sands the body of a guitar at the Fender factory, in Corona, California, on October 6, 2022. Industries sensitive to rising interest rates have been slowing hiring. (VALERIE MACON/AFP via Getty Images)

The Labor Department' monthly job report released on Friday brought good news for workers, but likely created a Maalox moment for Federal Reserve officials trying to get inflation under control.

The report showed that hiring slowed only slightly in November, with employers adding 263,000 jobs last month, compared to 284,000 jobs in October. The unemployment rate held steady, at a low 3.7%.

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