The U.S. Bureau of Labor Statistics reported an increase of 227,000 in total nonfarm payroll employment for November, and the unemployment rate changed little at 4.2 percent.
There was a loss of 28,000 jobs in retail trade, despite the holiday shopping period between Thanksgiving and Cyber Monday, and modest in growth in consumer spending. U.S. retail sales (excluding automotive) were up 3.4 percent on Black Friday, Nov. 29 compared to Black Friday 2023, according to preliminary insights from Mastercard SpendingPulse.
“Black Friday was a good indicator of how the holiday season is positively shaping up,” said Michelle Meyer, chief economist,
