Real gross domestic product edged up 0.1% in November, following a 0.1% uptick in October. Although inflationary pressures have been slowly decelerating since the peak of the Consumer Price Index (CPI) in June 2022 (8.1%), they still remained higher than recent historical trends, after rising 5.9% year over year in January 2023. Also in January, employment rose by 150,000 (+0.8%), while the unemployment rate held steady at 5.0%, just above the record low of 4.9% reached in June and July 2022.
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