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Stock Market Today: Stocks End Mixed As November Jobs Data Shows Wage Surge

Stock Market Today: Stocks End Mixed As November Jobs Data Shows Wage Surge

The Bureau for Labor Statistics said 263,000 new jobs were created last month, well ahead of the Street consensus forecast of 200,000, with hourly wages rising 0.6% on the month and 5.1% on the year. Federal Reserve Chairman Jerome Powell said earlier this week that the job market "holds the key to understanding inflation", citing data that suggests as many as 10.3 million positions remain unfilled as of the end of October. "The labor market is hot, hot, hot, heaping pressure on the Fed to continue raising policy rates," said Seema Shah, chief global strategist at Principal Asset Management in London.