Total nonfarm payroll employment rose by 227,000 in November, and the unemployment rate changed little at 4.2%, according to the Bureau of Labor Statistics’ Employment Situation Summary released Friday.

“The November jobs report indicates a solid underlying labor market despite recent monthly fluctuations. Low unemployment, real wage growth, and strong hiring foster favorable conditions for increased consumer spending,” said America’s Credit Unions Senior Economist Dawit Kebede. “Hence, credit union members are more likely to take out loans to finance big purchases and better positioned to repay them on time, particularly as interest rates begin to decline.”