US Nonfarm Payrolls rise by 263,000 in November

Nonfarm Payrolls in the US rose by 263,000 in November, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading came in much higher than the market expectation of 200,000. October’s reading got revised higher to 284,000 from 261,000.

Further detail of the publication revealed that the Unemployment Rate remained unchanged at 3.7% and the annual wage inflation, as measured by the Average Hourly Earnings, rose to 5.1% from 4.9% in October. Finally, the Labor Force Participation Rate edged lower to 62.1% from 62.2%.