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US unemployment hits four-year high as November data signals weakening labour market pressure on Fed

US unemployment rate: The US unemployment rate climbed to 4.6 per cent in November, marking a four-year high, as federal job losses outweighed private sector gains. Private payrolls grew by 121,000, while federal employment fell by 6,000, contributing to total losses of 271,000 since January. Teenage unemployment rose to 16 per cent. The data adds pressure on the Fed to monitor employment trends closely. Markets and bond yields responded, while President Trump advocated further interest rate cuts.

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