US Economy Adds , More Jobs Than Expected , Despite Fed Rate Hikes.<br />NBC reports that America's<br />economy showed better job growth <br />than expected in November.<br />The higher-than-expected numbers came despite <br />aggressive rate hikes by the Federal Reserve <br />meant to slow the labor market and bring down inflation.<br />The higher-than-expected numbers came despite <br />aggressive rate hikes by the Federal Reserve <br />meant to slow the labor market and bring down inflation.<br />According to a Labor Department report released <br />on December 2, nonfarm payrolls grew 263,000.<br />According to a Labor Department report released <br />on December 2, nonfarm payrolls grew 263,000.<br />Economists surveyed by Dow Jones had <br />predicted an increase of just 200,000.<br />Last month, the monthly gain had been slightly <br />higher with payroll numbers revised to 284,000.<br />Meanwhile, the unemployment rate came <br />in at 3.7%, exactly as predicted by economists.<br />NBC reports that the numbers will likely not <br />slow Fed interest rate hikes as the central bank <br />continues to wrestle with inflation at a forty-year high.<br />NBC reports that the numbers will likely not <br />slow Fed interest rate hikes as the central bank <br />continues to wrestle with inflation at a forty-year high.<br />Working contrary to the Fed's efforts <br />to fight inflation, average hourly <br />earnings climbed 0.6% in November. .<br />That's double what Dow Jones <br />estimated it to be for the month.<br />Compared to the same <br />time last year, wages <br />were reportedly up 5.1%. .<br />Economists had predicted , just a 4.6% increase.
