CNN
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The Biden White House had hoped to see continued moderation in US jobs growth in the November jobs report to bolster what it sees as growing evidence that inflation is starting to slow – but newly released data Friday morning defied the Federal Reserve’s aggressive efforts to cool down the economy.
The latest employment report comes after a string of promising economic data over the last week that appeared to show a resilient economy and moderating prices. Friday’s news that the US economy added 263,000 jobs in November – with the unemployment rate holding steady at 3.7% – came in well above economists’ expectations.
White House officials have viewed several key economic reports released in recent days as signs that the US economy is in the process of making an important transition, as taming inflation still remains a…
