The U.S. job market showed resilience in November, adding 227,000 positions, significantly exceeding projections of 200,000 jobs.

• The unemployment rate rose slightly to 4.2%.
• Bitcoin prices jumped, briefly surpassing $98,500.

Overview

The December report from the Bureau of Labor Statistics highlighted a recovery following October's weak performance, which may have been influenced by severe weather. Nonfarm payrolls reported a marked increase compared to the previous month's adjusted figures, which were revised from 12,000 to 36,000.

Economic Implications

As vital economic indicators come to light, the Federal Reserve looks ahead to its rate-setting meeting in mid-December. Current market expectations have shifted, with a 70% chance of a 25 basis point cut now estimated at 88% post-report.

To learn more about the Federal Reserve’s monetary policy implications, visit the CME FedWatch Tool.