US payrolls rebounded moderately in November after posting a sharp decline in October, the Labor Dept. reports. The October slide was largely due to federal government employees leave jobs after accepting buyouts from the Trump administration’s DOGE initiative. Meanwhile, the unemployment rose to 4.6%, a four-year high. “The US economy is in a hiring recession,” Heather Long, chief economist at the Navy Federal Credit Union, wrote on X.

(Click on image to enlarge)

US retail spending was unchanged in October, the Commerce Department reports. The flat spending followed a revised 0.1% increase in September. The results suggest that Americans have moderated their spending lately.

President Trump orders “total and complete blockade” of sanctioned oil tankers coming to and leaving from Venezuela. The announcement is seen as a move in ratcheting up pressure against leader Nicolás Maduro’s regime.

US business activity growth slowed in December, slipping to the weakest pace since June, according to PMI survey data, a GDP proxy. “The flash PMI data for December suggest that the recent economic growth spurt is losing momentum,” said Chris Williamson, chief business economist at S&P Global Market Intelligence.”

More By This Author: