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U.S. Job Growth Falls Well Short Of Estimates In November

After reporting strong job growth in the previous month, the Labor Department released a report Friday morning showing employment in the U.S. increased by much less than expected in the month of November.

The report said non-farm payroll employment rose by 155,000 jobs in November after surging up by a downwardly revised 237,000 jobs in October.

Economists had expected employment to climb by about 200,000 jobs compared to the jump of 250,000 jobs originally reported for the previous month.

Meanwhile, the Labor Department said the unemployment rate in November remained unchanged for the second straight month at 3.7 percent, holding at its lowest level since hitting 3.5 percent in December of 1969.

Average hourly employee earnings rose by $0.06 to $27.35 in November, reflecting a 3.1 percent increase compared to the same month a year ago.

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