U.S. nonfarm payrolls increased a disappointing 112,000 in November while the unemployment rate dipped to 5.4 percent, the Labor Department estimated Friday.
Economists were looking for stronger growth of about 204,000 in November, according to a survey conducted by CBS MarketWatch. None of the 42 economists surveyed forecast a figure as low as 112,000. See Economic Calendar.
Payroll gains in September and October were revised down by a total of 54,000. October’s gains were revised to 303,000 from 337,000. Over the past three months, job growth has averaged 178,000 per month.
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