United States: Still No Slowdown in the Job Market

According to the establishment survey released today, the US economy added 263,000 jobs in November. This comes after gains of 284,000 in October (revised from 261,000) and 269,000 in September (revised from 315,000). The unemployment rate remained unchanged at 3.7%. The US job market—including wage growth—remains resilient, a sign of continued economic strength. The Federal Reserve will therefore have no choice but to keep raising interest rates, though future hikes should be smaller.