Mohamed A. El-Erian , Columnist

What the November Jobs Report Means for Policy

Seemingly competing signals point to structural headwinds for the U.S. labor market.

December 2, 2016 at 7:45 PM UTC

Mohamed A. El-Erian is a Bloomberg Opinion columnist. A former chief executive officer of Pimco, he is president of Queens’ College, Cambridge; chief economic adviser at Allianz SE; and chair of Gramercy Fund Management. He is author of “The Only Game in Town.”

More often than not.
Photographer: Tim Boyle/Getty Images

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The U.S. jobs report for November released Friday was met essentially with a yawn by Wall Street, causing relatively little immediate movement in stock prices. This was understandable. The data's mixed signals suggest a short-term Goldilocks scenario (neither too hot nor too cold) for markets and Federal Reserve policies. The longer-term implications, however, are more complex.

Monthly U.S. Jobs Report