US job growth roars back in November, with 266,000 added

U.S. hiring surged in November, as the economy added 266,000 jobs and unemployment returned to a half-century low, a sign the U.S. is powering through a global slowdown.

The payroll number easily topped the estimate of 180,000 from economists surveyed by Refinitiv, who also saw the unemployment rate holding steady from October’s 3.6 percent.

It marks the 110th month of straight gains.

Unemployment ticked down slightly to 3.5 percent as more people were looking for work, matching a 50-year low. The labor force participation rate was little changed at 63.2 percent. Average hourly earnings, meanwhile, rose by 3.1 percent over the past year to $28.29.

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