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US adds 266,000 jobs in November, topping estimates; wage growth at 3.1%

The U.S. job market added more jobs than expected in November as nonfarm job gains in the country were revised up for October and September.

Total nonfarm payroll employment in the U.S. grew by 266,000 in November, compared with the Econoday consensus estimate of 180,000 additional jobs.

Job gains in October were revised up to 156,000 from 128,000 while employment figures for September were revised up to 193,000 from 180,000, data from the U.S. Bureau of Labor Statistics showed.

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Most of the job gains were in healthcare and in professional and technical services. Employment in manufacturing also rose as workers returned from a well-documented automobile industry strike.

Average hourly earnings rose 3.1% on a yearly basis, topping market expectations of 3.0% annual growth.

The unemployment rate stood at 3.5% in the month, compared with the Econoday consensus forecast of 3.6%. Meanwhile, the labor force participation rate was little changed at 63.2%.

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The ADP National Employment Report, published before the nonfarm payroll numbers on Dec. 4, showed private-sector employers added 67,000 jobs in November, coming in well below analysts' forecasts and reflecting the slowest private-sector job growth since May.