The unemployment rate hit its highest level in more than four years, fueling questions about the economy’s underlying strength.

U.S. job growth rebounded in November after nonfarm payrolls declined in October because of government spending cuts, but the unemployment rate was at 4.6% as the labor market weakens against the backdrop of economic uncertainty stemming from President Donald Trump's aggressive trade policy.

The United States gained a decent 64,000 jobs in November but lost 105,000 in October as federal workers departed after cutbacks by the Trump administration, the government said in delayed reports.

The update was delayed due to the government shutdown, but the numbers showed the labor market continuing to weaken. The unemployment rate rose to 4.6%, its highest level in four years, up from 4.2%, and the economy added only 64,000 jobs. The Bureau of Labor Statistics said there's been little net job growth since April.

The unemployment rate jumped to 4.6%, its highest level since September 2021 – up from 4.4% in September, according to government data.

The latest jobs report shows Black workers facing higher joblessness, longer unemployment spells, and growing economic risk.

Today’s data may help explain why majorities of voters in recent polls have given President Trump poor marks on the economy. Unemployment is rising and wage growth is slowing, the data show, adding to the financial pressures on American families when prices are elevated.

The US unemployment rate rose to 4.6 per cent in November, the highest level in more than four years, in a further sign of weakness in the labour market. The world’s biggest economy added 64,000 jobs in November but shed 105,000 in October, bolstering the case for the Federal Reserve to cut interest rates further in the new year.

Investors reacted to the delayed release of the November jobs report, seen as pivotal to the path of interest rates next year.