U.S. job growth surged in November after being severely hindered by hurricanes and strikes, but a rise in the unemployment rate to 4.2% pointed to an easing labor market that should allow the Federal Reserve to cut interest rates again this month.

U.S. employers added 227,000 jobs in November as the effects from hurricanes and strikes the previous month reversed. The unemployment rate was 4.2%

The November jobs report showed a better-than-expected increase of 227,000 jobs. See why I think that the Fed may reconsider rate cuts in its 2025 projections.

Job growth rebounded in November from the weather-related slowdown the previous month, fresh evidence that the labor market remains healthy.