Job Market Weakness, Rate Cuts in 2023?
Update: 2025-12-17
Description
New employment data reveals underlying weakness in the American job market, potentially leading to interest rate cuts next year. Nonfarm payrolls added only 64,000 jobs in November, with the unemployment rate climbing to 4.6%. Part-time involuntary work increased by over 900,000, and teenage unemployment rose to 16.3%. Federal government employment also saw a significant decline. While investors dont expect an immediate rate cut, some analysts see potential for improvement in the coming year, but others remain cautious due to weakness in private payroll data, particularly among smaller businesses.
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