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Economy

U.S. adds 263,000 jobs in November, complicating the fight against inflation

Strong jobs growth and rising wages are creating new challenges for the Federal Reserve

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Updated December 2, 2022 at 7:04 p.m. EST|Published December 2, 2022 at 8:32 a.m. EST
A “now hiring” sign outside Taylor Party and Equipment Rentals in Somerville, Mass., in September. (Brian Snyder/Reuters)
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The U.S. economy added 263,000 jobs in November, bolstering a labor market that has proved surprisingly resilient, while complicating the Federal Reserve’s top task of tackling inflation, which remains the nation’s biggest economic threat.

The upbeat reading from the Bureau of Labor Statistics, released Friday, was down slightly from October but still well over historic norms and analysts expectations. The unemployment rate remained unchanged at 3.7 percent.