US nonfarm payrolls are expected to have risen by 50,000 in November 2025. The unemployment rate is forecast to remain at a 2021 high of 4.4%, while average hourly earnings are seen increasing by 0.3%. The delayed November jobs report is likely to confirm a continued cooling in the labour market, with employment gains remaining concentrated in healthcare and social assistance, as well as in the leisure and hospitality sectors. Meanwhile, the Bureau of Labor Statistics canceled the October Employment Situation report due to the government shutdown and the inability to retroactively collect sufficient data. As a result, only partial labour market figures for October will be released alongside the November data, and the unemployment rate will not be reported.