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U.S. Added 227K Jobs in November, Topping Estimates for 200K

Author: Content Editor
The US employment picture improved in November with nonfarm payrolls rising by 227,000. This exceeded economist forecasts and was seen as a rebound after weak data in October, which was likely impacted by hurricanes. The unemployment rate for November was 4.2%, slightly higher than the previous month's rate of 4.1%. Following the release of this data, the price of bitcoin surged to $98,445. These job numbers are significant as they are some of the last economic data the Federal Reserve will consider before its meeting in December, where interest rate decisions will be made. Initially, market participants were expecting the Fed to continue cutting rates, but strong economic numbers and cautious talks from Fed members have led to a reassessment of that expectation. Traders now believe there is an 88% chance of a 25 basis point rate cut in December.

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