October and November Jobs Report released, weakening labor market trend continues

"The jobs gain report for October and November reveals a continuation of the weakening trend in the labor market, with unemployment rising two percentage points and October showing sharp declines due to DOGE cuts, despite modest gains in November. Additional signs of broader challenges to the labor market include concentration of job gains in only a few private sector industries and downward revisions of prior month reports. If this deterioration continues in upcoming reports, the Federal Reserve may need to reconsider its hawkish stance planned for 2026. Credit unions will remain a trusted and reliable partner for members in times of economic challenges." 

​- America's Credit Unions' Senior Economist Dawit Kebede

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