U.S. Nonfarm Payrolls Rise More Than Expected in November, Signaling Labor Market Resilience

The U.S. labor market showed continued resilience in November, as Nonfarm Payrolls (NFP) increased by 64,000, according to data released Tuesday by the Bureau of Labor Statistics (BLS). The reading surpassed market expectations for a gain of 50,000, offering a modest upside surprise to investors.

The better-than-expected job growth suggests that employment conditions remain relatively stable despite tighter financial conditions and ongoing uncertainty surrounding the Federal Reserve’s monetary policy outlook. While the headline figure points to a slower pace of hiring compared with earlier periods, it nonetheless reinforces the view that the U.S. economy continues to absorb higher interest rates without a sharp deterioration in labor demand.

Markets are likely to assess the NFP data alongside other key labor indicators, such as wage growth and the unemployment rate, as they gauge the timing and scope of potential interest rate cuts by the Federal Reserve in the coming months.