US non-farm payrolls rise more quickly than expected in November

(Sharecast News) - Hiring in the US rebounded a tad more strongly than expected last month, once the impact from hurricanes and strikes in October had passed. According to the US Department of Labor, in seasonally adjusted terms non-farm payrolls grew by 227,000 in November.

Economists' median forecast was for an increase of 214,000.

Readings for the previous two months combined meanwhile were marked up by 56,000.

The three-month moving average of payrolls gains printed at 173,000.

Average hourly earnings were up at a month-on-month pace of 0.4% (consensus: 0.3%).

The unemployment rate ticked higher by one tenth of a percentage point to 4.2%, which was also in line with economists' forecasts.

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