Non farm payrolls increased by 263,000 jobs last month, the Labor Department said in its closely watched employment report on Friday. Data for October was revised higher to show payrolls rising 284,000 instead of 261,000 as previously reported.
Hiring remains strong despite technology companies, including Twitter, Amazon and Meta, the parent of Facebook, announcing thousands of jobs cuts. There were 10.3 million job openings at the end of October, many of them in the leisure and hospitality as well as healthcare and social assistance industries.Average hourly earnings increased 0.6% after advancing 0.5% in October. That raised the annual increase in wages to 5.1% from 4.9% in October. Wages peaked at 5.6% in March.
Source: Loan Digest (loandigest.net)
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