Jobs

US Unemployment Rate to Tick Up Amid Early Signs of Recession

Recession probably began in October, Bloomberg Economics says
Jobs report to show temporary boost from resolution of strikes

WATCH: The report is expected to show a pickup in hiring and the unemployment rate holding at 3.9%. Michael McKee has a preview.Source: Bloomberg

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By Matthew Boesler

December 8, 2023 at 5:00 AM UTC

This article is for subscribers only.

A monthly Bureau of Labor Statistics report due Friday is set to show the US unemployment rate edged higher in November as the economy began to slip into a recession, according to Bloomberg Economics.

Alongside a rise in the unemployment rate, to 4% from 3.9%, the figures will probably also reveal a temporary rebound in employment growth thanks to the resolution of two major strikes, Bloomberg economists Anna Wong and Stuart Paul said Thursday in a preview of the report.