> November 2025 Jobs Report: Payrolls −173k, Unemployment 4.6%
> Source: https://interestratedecision.com/jobs-report/november-2025/ · Content last changed: 2026-11-09
> InterestRateDecision.com: free to quote with a link to the page above.

US jobs report for November 2025: payrolls −173k, unemployment 4.6%, hourly earnings +0.4% on the month.

# November 2025 jobs report

The November 2025 jobs report showed US employers added −173k jobs (−173k in the October 2025 report as first published). The unemployment rate was 4.6%, unchanged, and average hourly earnings rose +0.4% on the month and 3.7% on the year.

Jobs added**−173k**−173k the report before

Unemployment**4.6%**4.6% the report before

Earnings a year**3.7%**+0.4% on the month

EUR/USD, 15 min**—**not measured yet

## The November 2025 figures

Released Tuesday, December 16, 2025 at 8:30 AM EST. Source: U.S. Bureau of Labor Statistics, as first published.

| Measure | November 2025 | October 2025 | November 2024 |
| --- | --- | --- | --- |
| **Nonfarm payrolls, jobs added** | **−173k** | −173k | +227k |
| **Unemployment rate** | **4.6%** | 4.6% | 4.2% |
| **Average hourly earnings, a month** | **+0.4%** | +0.4% | +0.4% |
| **Average hourly earnings, a year** | **3.7%** | 3.7% | 4.0% |

As first published: later reports revise these figures. This compares with earlier reports, not with what economists expected.

The first hour after this release has not been measured yet.

## What it means for the next Fed decision

The Fed decides next on [Wednesday, December 9, 2026](https://interestratedecision.com/fed/) at 2:00 PM EST. Data like this jobs report is part of what the committee weighs: see [the Fed rate forecast](https://interestratedecision.com/blog/fed-rate-forecast/) for the dots against today’s rate.

The odds from the record for that meeting: **hold 62%**. They are counted from every Fed decision since 2008 by fixed rules, not from markets and not from this report: [how they are made](https://interestratedecision.com/fed/rate-odds/).

Cut **1%** Hold **62%** Hike **37%**

## More

The next jobs release, for November 2026, is due on Friday, December 4, 2026. Also: [the US CPI report](https://interestratedecision.com/cpi/), [the jobs report](https://interestratedecision.com/jobs-report/), [PCE inflation](https://interestratedecision.com/pce/), [retail sales](https://interestratedecision.com/retail-sales/) and [GDP](https://interestratedecision.com/gdp/).

[← October 2025](https://interestratedecision.com/jobs-report/october-2025/) [December 2025 →](https://interestratedecision.com/jobs-report/december-2025/)

## Questions

What was the November 2025 jobs report?

The November 2025 jobs report showed US employers added −173k jobs (−173k in the October 2025 report as first published). The unemployment rate was 4.6%, unchanged, and average hourly earnings rose +0.4% on the month and 3.7% on the year.

How did the dollar react to the November 2025 jobs report?

The first hour after this release has not been measured yet.

Was it higher or lower than the report before?

The headline figure, nonfarm payrolls, jobs added, was −173k, the same as −173k in the October 2025 report. That compares with the report before, not with what economists expected, which this site does not publish.

Where do the figures come from?

U.S. Bureau of Labor Statistics, as first published, read automatically and never typed by hand. Reports are later revised, so a later figure for the same month can differ; check the agency’s own site.

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