The U.S. job market added 227,000 workers in November, signaling a solid recovery after a decline in hiring during October due to strikes and hurricanes.
While the unemployment rate ticked up to 4.2%, the report suggests resilience in the job market, with layoffs at historically low levels for two decades.
Despite fears that high interest rates would push the economy into recession, it has continued to grow, bolstered by strong consumer spending and hiring.
Inflation has significantly dropped from its peak of 9.1% to 2.6%, yet Americans remain frustrated by persistent high prices under the current administration.
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