Three signs from today’s jobs report that suggest inflation will stay high

Friday’s jobs report showed the buzzing U.S. economy is creating hundreds of thousands of jobs, suggesting rising prices are here to stay despite efforts by the Federal Reserve to contain them.

The U.S. added 263,000 jobs in November, according to the federal jobs report released Friday, far more than the 200,000-job gain economists expected to see. The jobless rate also held even at 3.7 percent, just 0.2 percentage points above its level in February 2020.

This is not bad news if you are looking to get a different or new job, but it is bad news for policymakers worried about inflation — a huge political issue for both parties.