U.S. Unemployment Rate Surges to 4.6% in November

The U.S. economy added 64,000 jobs in November, but the unemployment rate climbed to 4.6%, the highest since September 2021, according recent to Labor Department data, Emma Ockerman reported for Yahoo Finance.

The report reflects continued stress from rising layoffs and a frozen job market, which has made finding employment increasingly difficult.

The November report follows a 43-day government shutdown that delayed economic data releases.

The report reflects continued stress from rising layoffs and a frozen job market, which has made finding employment increasingly difficult. October’s employment figures showed a loss of 105,000 jobs, although the official unemployment rate for October will not be released.

Bank of America economist Shruti Mishra noted that October payrolls were likely affected by the end of the Deferred Government Employee (DOGE) buyout program, with many federal employees leaving their positions on Sept. 30.