Private businesses in the US cut 32K jobs in November 2025, following an upwardly revised 47K gain in October, and compared to forecasts of a 10K rise. Hiring was particularly weak in manufacturing (-18K), professional and business services (-26K), information (-20K), construction (-9K) and financial activities (-9K). On the other hand, job gains occurred in education and health services (33K), leisure and hospitality (13K), natural resources and mining (8K) and trade, transportation and utilities (1K). Hiring has been choppy of late as employers weather cautious consumers and an uncertain...
Treasury Secretary Scott Bessent on Wednesday predicted that the administration still will be able to implement its tariff agenda regardless of whether it prevails in a pending case before the Supreme Court. Repeating assertions he had made prior to the high court hearing a month ago, Bessent cited several sections of 1962 Trade Act that give the president sweeping powers over import duties. "We can recreate the exact tariff structure with sections 301, with 232, with 122," he said during an onstage interview at The New York Times DealBook Summit. Asked by host Andrew Ross Sorkin the...
According to a report from the US Department of Labour (DOL) released on Thursday, the number of US citizens submitting new applications for unemployment insurance went down to 191K for the week ending November 29. The latest print came in short of initial estimates (220K) and was lower than the previous week's 218K (revised from 216K). Additionally, the 4-week moving average decreased by 9.5K, bringing it to 214.75K from the revised average of the previous week. The report indicated a seasonally adjusted insured unemployment rate of 1.3%, with Continuing Jobless Claims shrinking by 4K to...