US economy added a robust 263,000 jobs in November

By Alicia Wallace, CNN Business

CNN — The US economy added 263,000 jobs in November, defying aggressive action from the Federal Reserve to cool the economy and bring down decades-high inflation.

The unemployment rate held steady at 3.7%, according to the latest monthly jobs snapshot from the Labor Department, released Friday morning.

Economists surveyed by Refinitiv had expected the pace of hiring to slow to a gain of only 200,000 jobs in October and the unemployment rate to stay flat at 3.7%.

This story is developing and will be updated.

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