The US unemployment rate increased to 4.6% in November 2025 from 4.3% in August, exceeding market expectations of 4.4% and marking the highest level since September 2021. The number of unemployed stood at 7.8 million, little changed from September, while employment levels were also broadly stable. The labor force participation rate was little changed at 62.5%, reflecting a largely steady labor force. The broader U-6 unemployment rate in the United States, which includes discouraged workers and those working part-time for economic reasons, rose in November, reflecting a sharp increase in involuntary part-time employment.