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US unemployment ticks down as hiring accelerates

Although employment appears to be heating up, analysts noted ahead of the report that the underlying state of the labor market has been weakening.

December 08, 2023 / 19:39 IST
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The United States saw its jobless rate edge down in November while hiring rose more than expected, government data showed Friday, as policymakers mull the need for further efforts to cool the economy.

The world's biggest economy added 199,000 jobs, said the Department of Labor, as the jobless rate ticked down to 3.7 percent.

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Meanwhile, wage growth heated up to 0.4 percent.

Although employment appears to be heating up, analysts noted ahead of the report that the underlying state of the labor market has been weakening.