U.S. hiring picked up in November and the unemployment rate increased, pointing to a moderating labor market rather than one that’s significantly deteriorating.
Nonfarm payrolls rose 227,000 last month following an upwardly revised 36,000 gain in October — a month constrained by storms and strikes — according to Bureau of Labor Statistics figures released Friday. Smoothing out volatility, payrolls growth over the past three months averaged 173,000 — a step down from the robust pace seen earlier this year.
