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November Jobs Prints Well Above Expectations, So Fed Policy Is a Toss-Up

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November Jobs Prints Well Above Expectations, So Fed Policy Is a Toss-Up
The Federal Reserve building in Washington, D.C. MDart10/Shutterstock
J.G. Collins
Updated:
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Commentary
The November jobs report showed that the economy added 263,000 new jobs, considerably better than the consensus estimate of 200,000 jobs. This morning’s print is 21,000 fewer jobs than were created in October 2022 and 384,000 fewer jobs than were created in the COVID recovery period of 2021. Net revisions for August and September added another 29,000 net new jobs. (It is generally believed that 200,000–250,000 jobs are required to accommodate population growth.)
J.G. Collins
J.G. Collins
Author
J.G. Collins is managing director of the Stuyvesant Square Consultancy, a strategic advisory, market survey, and consulting firm in New York. His writings on economics, trade, politics, and public policy have appeared in Forbes, the New York Post, Crain’s New York Business, The Hill, The American Conservative, and other publications.
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