Unemployment in November
Short Answer
1. Market Behavior & Drivers
- Unemployment is expected between 4.1% and 4.3%, reflecting stable-to-slightly higher labor trends.
- Higher thresholds above 4.5% are unlikely, given subdued hiring and no major layoffs shock.
Who Wins and Why
| Outcome | Market | Model | Why |
|---|---|---|---|
| Above 4.1% | 66.0% | 68.3% | Expert forecasts project the November 2026 unemployment rate within the 4.1%-4.3% range. |
| Above 4.3% | 66.0% | 62.1% | Expert forecasts project the November 2026 unemployment rate within the 4.1%-4.3% range. |
| Above 3.7% | 97.0% | 97.6% | Expert forecasts project the November 2026 unemployment rate within the 4.1%-4.3% range. |
| Above 3.8% | 98.0% | 97.6% | Expert forecasts project the November 2026 unemployment rate within the 4.1%-4.3% range. |
| Above 4.2% | 72.0% | 68.3% | Expert forecasts project the November 2026 unemployment rate within the 4.1%-4.3% range. |
Current Context
Sources (13)
- 1Beyond Health Care: Has Labor Market Improvement Broadened in 2026? - Federal Reserve Bank of Atlantaatlantafed.org
- 23478873 USB_IP_OCT 26 Economic Outlook_Dusbank.com
- 3www.wsj.comOctagon Agentwsj.com
- 4Indeed Hiring Lab Labor Market Outlook Survey Q3 2026indeed.com
- 5October 2026 Outlook Survey Summarynabe.com
- 6Third Quarter 2026 Survey of Professional Forecastersphiladelphiafed.org
- 7The Fed - September 16, 2026: FOMC Projections materials, accessible versionfederalreserve.gov
- 8The October 2026 Wall Street Journal Economic Forecast Surveyeconomicgreenfield.com
- 9Unemployment rate in November? Odds & Predictions 2026kalshi.com
- 10December 4, 2026: Unemployment in November Prediction Marketrobinhood.com
- 11Unemployment in November — Live Odds | Frenzy Capitalfrenzycap.com
- 12Jobs numbers in Nov 2026? - Kalshi KXPAYROLLS-26NOV Odds | CoinRithmcoinrithm.com
- 13US Employment Situation (Non-Farm Payrolls) November 2026: Date, Time & What to Expect | Finance Calendarfinancecalendar.com
2. Price Chart
Historical Price (Probability)
3. Significant Price Movements
Notable price changes detected in the chart, along with research into what caused each movement.
Outcome: Above 4.3%
📈 October 14, 2026: 41.0pp spike
Price increased from 9.0% to 50.0%
📈 October 10, 2026: 31.0pp spike
Price increased from 19.0% to 50.0%
Outcome: Above 4.1%
📈 October 12, 2026: 34.0pp spike
Price increased from 32.0% to 66.0%
📉 October 11, 2026: 28.0pp drop
Price decreased from 60.0% to 32.0%
Outcome: Above 4.5%
📈 October 09, 2026: 13.0pp spike
Price increased from 3.0% to 16.0%
Sources (18)
- 1Unemployment in November: Odds & Chart | 4Search Finance4search.com
- 2Unemployment Rate — macro indicator & related series · The Distributedthedistributed.co
- 3Today's Biggest Prediction Market Moves: Kalshi & Polymarket | PicksByOddspicksbyodds.com
- 4October payroll adds priced in the 40K to 50K range · CM Signalclearmarket.fyi
- 5Unemployment rate climbs as views of economy sinks | APG State News | reflector.comreflector.com
- 6The Last Jobs Report Before the Midterms: 29,000 Jobs and a 4.2% Unemployment Rate — Election Tracker Liveelectiontracker.live
- 7All 298 Prediction Markets | PicksByOddspicksbyodds.com
- 8US unemployment rate in October implied near 4.1 to 4.2 percent · CM Signalclearmarket.fyi
- 9Jobs Report Prediction Market Accuracy: Payrolls, Unemployment, Claimspredictionscout.com
- 10The headline got worse. The gap didn't close.theupdate.jobric.ai
- 11Cautious optimism for job market outlook ahead of electionwdtv.com
- 12Unemployment in November - Kalshi KXU3-26NOV Odds | CoinRithmcoinrithm.com
- 13It's taking longer to find a new job after losing one: NPRnpr.org
- 14Will above 90000 jobs be added in October 2026?… | Frenzy Capitalfrenzycap.com
- 15Economy Prediction Market Odds Today | PicksByOddspicksbyodds.com
- 16BLS: September 2026 nonfarm employment little changed, unemployment 4.2%socialtalkx.com
- 17September payrolls collapse to 29k, unemployment ticks to 4.2% — Noodles Researchnoodlesresearch.com
- 18US payrolls rose 29,000 in September as unemployment held at 4.2 percent | ActiveInvestorMag.comactiveinvestormag.com
4. Market Data
Contract Snapshot
This market resolves "YES" if the reported unemployment rate for November is above 4.2%. Conversely, "NO" resolves if the unemployment rate for November is reported as 4.2% or below. The market "Begins" on December 4, 8:00 AM EST, with a maximum payout date listed as December 4, 2026. No special settlement conditions are explicitly detailed in the provided content.
Available Contracts
Market options and current pricing
| Outcome bucket | Yes (price) | No (price) | Last trade probability |
|---|---|---|---|
| Above 3.8% | $1.00 | $0.09 | 98% |
| Above 3.7% | $1.00 | $0.08 | 97% |
| Above 3.9% | $0.97 | $0.18 | 82% |
| Above 4.0% | $0.88 | $0.28 | 72% |
| Above 4.2% | $0.70 | $0.72 | 72% |
| Above 4.1% | $0.66 | $0.75 | 66% |
| Above 4.3% | $0.66 | $0.92 | 66% |
| Above 4.4% | $0.17 | $1.00 | 50% |
| Above 4.5% | $0.15 | $1.00 | 15% |
| Above 4.6% | $0.13 | $1.00 | 12% |
| Above 4.8% | $0.11 | $1.00 | 3% |
| Above 4.7% | $0.11 | $1.00 | 2% |
| Above 4.9% | $0.11 | $1.00 | 2% |
| Above 5.0% | $0.11 | $1.00 | 2% |
Market Discussion
The November 2026 U.S. unemployment rate will resolve against the seasonally adjusted BLS U-3 rate in the Employment Situation report, scheduled for December 4, 2026 [1][2][3][4][5]. Aggregated market pricing currently indicates a median unemployment rate of 4.3%, with the middle 50% of implied outcomes ranging from roughly 3.98% to 4.47%, suggesting a modest weakening of the labor market [2]. This outlook is supported by threshold pricing, with probabilities decreasing as the rate rises (e.g., 66¢ for above 4.1% and 16¢ for above 4.5% on one platform) [1], and related pricing for November payrolls implying subdued employment growth around 70,000 [2][6].
Sources (6)
- 1December 4, 2026: Unemployment in November Prediction Marketrobinhood.com
- 2Unemployment in November: Odds & Chart | 4Search Finance4search.com
- 3Unemployment in November — Live Odds | Frenzy Capitalfrenzycap.com
- 4Unemployment in November - Kalshi KXU3-26NOV Odds | CoinRithmcoinrithm.com
- 5Will the unemployment rate (U-3) be above 4.4% in November? | Paritypredictparity.com
- 6Jobs numbers in Nov 2026: Odds & Chart | 4Search Finance4search.com
5. Trust Index
Primary risk· Trade quality
Weighted blend with hard caps — a critically weak safety pillar, or a severe trading anomaly, caps the total regardless of the rest. Full methodology · About the Trust Index
6. What do leading labor indicators from October and November 2026, such as weekly jobless claims and the JOLTS report, signal for the final unemployment rate?
| Initial Jobless Claims (week ended Oct 3, 2026) | 197,000 [1][2][3] |
|---|---|
| Continuing Jobless Claims (Oct 8, 2026) | 1.716 million (rose 17,000) [1][2][3] |
| November 2026 Unemployment Rate (prediction market median Oct 14) | 4.25% [4][5] |
Sources (7)
- 1News Releaseoui.doleta.gov
- 2Table Data - Initial Claims | FRED | St. Louis Fedfred.stlouisfed.org
- 3US initial jobless claims for the week is modestly stronger at 197K vs 200K est.investinglive.com
- 4Unemployment in November - Kalshi KXU3-26NOV Odds | CoinRithmcoinrithm.com
- 5Unemployment in October: Odds & Chart | 4Search Finance4search.com
- 6Unemployment Insurance Weekly Claims Data, Employment & Training Administration (ETA) - U.S. Department of Laboroui.doleta.gov
- 7[PDF] News Release - U.S. Department of Labordol.gov
7. What economic assumptions underpin the consensus forecast from the FOMC and the Wall Street Journal survey, placing Q4 2026 unemployment between 4.1% and 4.3%?
| Q4 2026 Unemployment Forecast | 4.1%-4.3% [1][2][3][4][5] |
|---|---|
| 2026 Real GDP Growth Probability | 2.1%-2.5% [1][6] |
| September 2026 Unemployment | 4.2% [2][3][4] |
Sources (13)
- 1Economics Indicators Predictions - Robinhoodrobinhood.com
- 2Current Unemployment Rate (Seasonally Adjusted U-3)unemploymentdata.com
- 3What Is the Unemployment Rate Expected to Be for September?wsj.com
- 4Jobless Claims Fall for Fifth Straight Weekwsj.com
- 5Stronger Growth, Weaker Hiring: Forecasters See a Split-Screen Economy - WSJwsj.com
- 6Bank of America unveils unemployment forecast before December data | New Market Perspectivenewmarketperspective.com
- 7Why Economists Think Higher Bond Yields Are Here to Stay - WSJwsj.com
- 8Will Real Estate Protect Your Portfolio if the AI Bubble Bursts? | WSJ’s Take On the Weekyoutube.com
- 9Bank of America unveils unemployment forecast before December datafinance.yahoo.com
- 10Bank of America unveils unemployment forecast before December data | Capital Whisperscapitalwhispers.com
- 11Bank of America unveils unemployment forecast before December data | Legacy Capital Edgelegacycapitaledge.com
- 12The Fed - Monetary Policy:federalreserve.gov
- 13Labor Force: The Economics Daily: U.S. Bureau of Labor Statisticsbls.gov
8. How do the Q4 2026 unemployment projections from the Federal Reserve's FOMC compare to those from the NABE Outlook Survey in terms of methodology and key drivers?
| FOMC Q4 2026 Unemployment Rate | 4.1% (Federal Reserve's FOMC) [1] |
|---|---|
| NABE 2026 Unemployment Rate Forecast | 4.2% (October 2026 NABE Outlook Survey) [2] |
| FOMC Unemployment Rate Definition | Average civilian unemployment rate in the fourth quarter (Federal Reserve) [1][3] |
Sources (8)
- 1The Fed - September 16, 2026: FOMC Projections materials...federalreserve.gov
- 2October 2026 Outlook Survey Summarynabe.com
- 3U.S. FOMC Meeting (September 15-16, 2026) - TD Economicseconomics.td.com
- 4[PDF] Monetary Policy Report, July 2026 - Federal Reservefederalreserve.gov
- 542nd Annual NABE Economic Policy Conferencechicagofed.org
- 6Schedule of Upcoming Releasesnabe.com
- 7Economics Indicators Predictions - Robinhoodrobinhood.com
- 8Unemployment in October: Odds & Chart | 4Search Finance4search.com
9. What is the precise release schedule for the key BLS and Fed economic reports in November and early December 2026 that will inform the final unemployment figure?
| Decisive Release | BLS Employment Situation for November 2026 (Friday, December 4, 2026) [1][2][3] |
|---|---|
| Resolution Time | 8:30 a.m. Eastern (December 4, 2026) [1][2][3] |
| Resolution Metric | Seasonally adjusted U-3 unemployment rate [2][3] |
Sources (7)
- 1Schedule of Releases for the Employment Situationbls.gov
- 2Unemployment in November - Kalshi KXU3-26NOV Odds | CoinRithmcoinrithm.com
- 3December 4, 2026: Unemployment in November Prediction Marketrobinhood.com
- 4Schedule of Releases for the Consumer Price Indexbls.gov
- 5Schedule of Releases for the Job Openings and Labor Turnover Surveybls.gov
- 6Schedule of Releases for the Producer Price Indexbls.gov
- 7Schedule of Releases for the Metropolitan Area Employment and Unemployment (Monthly)bls.gov
10. How might potential shifts in the Labor Force Participation Rate during Fall 2026 impact the final November unemployment calculation?
| Rising LFPR effect on U-3 | Can increase November U-3 if new entrants are not immediately employed [1][2][3] |
|---|---|
| Falling LFPR effect on U-3 | Can mechanically lower U-3 if people stop looking for work [1][3] |
| U-3 increase threshold | Risk of crossing 4.3% or 4.4% if higher LFPR occurs with weak hiring [1][3] |
11. What Could Change the Odds
Key Catalysts
Key Dates & Catalysts
- Expiration: March 05, 2027
- Closes: December 04, 2026
Sources (10)
- 1Economic Release Calendar With Kalshi Odds: CPI, Jobs, GDP, Fedpredictionscout.com
- 2Unemployment rate in November? Odds & Predictions 2026kalshi.com
- 3December 4, 2026: Unemployment in November Prediction Marketrobinhood.com
- 4Jobs numbers in Nov 2026: Odds & Chart | 4Search Finance4search.com
- 5Schedule of Selected Releases for November 2026bls.gov
- 6Schedule of Selected Releases 2026bls.gov
- 7Schedule of Releases for the Employment Situationbls.gov
- 8Economic Calendar - November 2026thomsoninvestmentgroup.com
- 9November 2026 U.S. Economic Calendar: CPI, Jobs & Fed | FedRateCalcfedratecalc.com
- 10Federal Reserve Board - Calendar: November 2026federalreserve.gov
13. Historical Resolutions
Historical Resolutions: 20 markets in this series
Outcomes: 5 resolved YES, 15 resolved NO
Recent resolutions:
- KXU3-26SEP-T5.0: NO (Oct 02, 2026)
- KXU3-26SEP-T4.9: NO (Oct 02, 2026)
- KXU3-26SEP-T4.8: NO (Oct 02, 2026)
- KXU3-26SEP-T4.7: NO (Oct 02, 2026)
- KXU3-26SEP-T4.6: NO (Oct 02, 2026)