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Payrolls surged by 227,000 in November, surpassing expectations, while the unemployment rate rose to 4.2% as the labor force participation rate declined. Job gains were primarily in health care, leisure and hospitality, and government, though retail trade saw a drop of 28,000 jobs. Average hourly earnings increased by 0.4% from the previous month, supporting expectations for a potential interest rate cut by the Federal Reserve in December.
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