Good news, but bad for the stock market because it means the Fed will continue aggressive efforts to slow the racing economy ECONOMY Payrolls and wages blow past expectations, flying in the face of Fed rate hikes https://www.cnbc.com/2022/12/02/jobs-report-november-2022.html Nonfarm payrolls increased 263,000 for the month while the unemployment rate was 3.7%, the Labor Department reported Friday. The payrolls number was well above the 200,000 estimate, while the unemployment rate was in line. Average hourly earnings jumped 0.6% for the month, double the estimate, and 5.1% annually vs. the 4.6% expectation.
