US Job Market in Flux Amid Administration Changes

The U.S. job market experienced significant fluctuations with a gain of 64,000 jobs in November but a loss of 105,000 in October, mainly due to federal worker cutbacks and resignations. The unemployment rate increased to 4.6%. Other factors, such as automation and high interest rates, add to the uncertainties.

The United States reported a net gain of 64,000 jobs in November following a significant loss of 105,000 positions in October, according to the Labor Department's delayed reports. This fluctuation underscores the volatility in the job market amid policies by the Trump administration, including federal worker cutbacks.

November's job increase exceeded economist projections of 40,000, despite previous losses stemming from cutbacks of 162,000 federal jobs, influenced by pressure from influential figures like Elon Musk. Meanwhile, multiple industry sectors, such as healthcare and manufacturing, experienced contrasting trends, with the former adding 46,000 jobs and the latter shedding positions.

Contributing to the job market's instability is employers' caution in hiring due to uncertainties around high tariffs and technological advancements like AI. The Federal Reserve's recent interest rate cut reflects ongoing concerns as reports continue to roll in late due to a prolonged government shutdown, complicating labor market evaluations.

(With inputs from agencies.)