U.S. employment growth in November was less than expected, b...

U.S. employment growth in November was less than expected, but the sudden drop in the unemployment rate showed that labor supply was tightening

$S&P 500 Index(.SPX.US)$ $Invesco QQQ Trust(QQQ.US)$ $SPDR Dow Jones Industrial Average Trust(DIA.US)$ Employment growth in the United States slowed sharply in November due to layoffs by retailers and local government education departments, but the unemployment rate fell to a 21-month low of 4.2%, indicating that labor market supply is rapidly tightening. Data show that in November, non-agricultural jobs in the United States increased by 210,000, the lowest increase since December last year. Although 594,000 people entered the labor market in November, the highest in 13 months, the unemployment rate still fell by 0.4 percentage points from October. The modest employment growth in November did not reduce expectations that the economy will accelerate this quarter after the slowdown in the third quarter.

Article excerpted from the US Stock Research Agency