US Job Growth Stalls: 64K Gained in Nov, 105K Lost in Oct; Unemployment Hits 4.6%

• The US gained 64,000 jobs in November but lost 105,000 in October, with the unemployment rate rising to 4.6%, the highest since 2021.
• October's job losses were primarily due to a 162,000 drop in federal workers, influenced by Trump administration cutbacks and Elon Musk's purge.
• Hiring momentum has slowed, attributed to uncertainty from President Donald Trump’s tariffs, high Federal Reserve interest rates, and companies' reluctance to hire new staff amid AI adoption and unpredictable policies.
• The Labour Department released these delayed job numbers due to a 43-day federal government shutdown, complicating economic assessments.
• The Federal Reserve cut interest rates by 0.25% for the third time this year due to job market concerns, though some officials dissented over inflation worries.

Why It Matters: US job market shows mixed signals with November gains, October losses, rising unemployment, and Fed rate cuts.