US Jobs Data Dashes Market Hopes

US jobs data from October and November, delayed by a government shutdown, revealed a mixed economic picture. October saw payrolls decrease by 105,000, pushing the unemployment rate to 4.6%, its highest since September 2021. This suggests a considerable economic slowdown.

However, November brought a more optimistic outlook, with employers adding 64,000 jobs, exceeding the consensus forecast of 45,000. Despite this November gain, the overall trend points to an economy that has been decelerating for some time.

Market watchers are now focused on upcoming November consumer price index data, anticipating further insights into economic conditions. Experts suggest this might be a time to consider reducing stock exposure and increasing fixed-income investments.