Golden Finance reported that CITIC Securities pointed out that the number of new non-farm jobs in the United States in November 2024 was slightly higher than expected, with medical care services, leisure and hotel industries and government departments being the main contributors, and the retail industry being the main drag. After the impact of hurricanes and strikes dissipated, new non-farm payrolls rebounded as expected in November. The unemployment rate has increased and the U.S. job market has weakened moderately. However, wage growth remains solid and companies have not seen significant layoffs. The overall job market remains healthy. After the release of non-agricultural data, the market raised its expectations for an interest rate cut by the Federal Reserve. We believe that the market's expectation of a "soft landing" for the U.S. economy will continue until at least next year before Trump takes office, and we maintain our previous judgment that the Federal Reserve will cut interest rates at its December interest rate meeting. 25bps. (Golden Ten)