showed that wages for workers rose 5.1% last month from a year earlier. That’s an acceleration from October’s 4.9% gain and easily topped economists’ expectations for a slowdown.
“The most important number for the Fed is probably the wage number,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments. The yield on the two-year Treasury jumped to 4.34% from 4.24% late Thursday. The 10-year yield, which helps set rates for mortgages and many other loans, rose to 3.56% from 3.51%.
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Stock Market Today: Report Shows U.S. Economy Added 263,000 Jobs in November, Dow, Nasdaq DownStocks dropped, with the Dow down about 300 points, and Treasury yields jumped after the jobs report showed strong hiring and wage growth Would be nice if there was no paywall restricting me from reading the article 😑 The labor market remains strong, gas prices are down ~30% from their highs earlier this year, and inflation shows signs of easing. Now maybe the GOP can quit pushing their 'recession' propaganda. Stocks dropped with strong hiring and wage growth? Oh, Wall Street, the consistently least patriotic entity in this country.
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