The November jobs report is due out in just a few hours. Fed Chair Jerome Powell said the labor market’s.hows only tentative signs of rebalancing, and wage growth remains well above levels that would be consistent with 2% inflation over time. A miss from these expectations will be (relatively) good news for the Fed, which is working to slow inflation by slowing the economy. In the current market, stocks cheered a deceleration in annual inflation growth to 7.7% from 7.9%. The recession that followed the Great Financial Crisis, in contrast, was one defined by unemployment. Millions of workers lost their jobs after the housing bust, and it took the better part of a decade for overall employment in the U.S. to recover . . .
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