The imaginary recession of 2019 is over.
The U.S. economy added 266,000 jobs for the month and the unemployment rate fell to 3.5 percent, matching the lowest level in 50 years.
Economists had expected the economy to add 187,000 jobs and for unemployment to remain unchanged at 3.6 percent, according to Econoday.
Adding to the picture of strength for the labor market, previous jobs numbers were revised up. September’s figure was revised up by 13,000 to 193,000. October was revised up by 28,000 to 156,000. Together, that adds 41,000 more jobs than previously reported.
The Friday report on nonfarm payrolls makes it clear that the economy is much stronger than thought by those who were predicting U.S. growth would slow dramatically or contract near year end.
Florida city says new GOP-backed DEI law blocks St. Patrick’s parade, Pride event
GOP senator says Republicans can ‘forget 2028’ as party looks to reclaim Upper Chamber
DNA Links Grizzly Bear Mom and Her Cubs to Fatal Mother-Daughter Mauling – All 4 Bears Hunted Down and Killed
Cape-Wearing Leftist Arrested at Texas University for Allegedly Striking 3 with Cane at TPUSA Event
Suspected DUI driver arrested on 3 murder counts after deadly North Hollywood crash, police say
Twice-deported United cockpit suspect granted asylum after transgender persecution claim: DHS
As Ilhan Omar Gloats Over Islamic Wins, Idaho Muslim Sentenced for Plot to Massacre Christians with Explosives, Knives, Firearms
Illegal immigrant arrested after dragging, striking ICE officer in Chicago suburb: DHS
Jeffries leaves door open to investigating major Trump ally as Democrats prepare to take power
ESPN’s Rex Ryan Jailed, Accused of Hitting 2 with His Truck and Fleeing the Scene
Hakeem Jeffries faces progressive holdouts but no rival as House speaker race takes shape
Watch: Tentacled UFO Caught on Wild Viral Video and Reported Near Military, But the Possible Truth May Disappoint
At least 9 new Dem members will carry Al Green’s mantle and try to impeach President Trump
At least 10 new Dem members will carry Al Green’s mantle and try to impeach President Trump
House Freedom Caucus Member Unloads on Fellow Republicans After Midterm Debacle: ‘Nobody Listened to Us!’
Hiring in November was strong across the board. Manufacturing, which had been a source of weakness in earlier reports, added 54,000 jobs. This was boosted by the end of the strike at General Motors, with autos adding 41,000. But economists, whose estimates were meant to reflect the end of the strike, had predicted just 15,000 extra jobs.
Healthcare added 45,000 jobs, as did leisure and hospitality. Employment in professional and technical services grew by 31,000.
Average hourly wages are up 3.14 percent compared with last year, above economist expectations. In manufacturing, the average workweek increased by 0.1 hour to 40.5 hours. Average hourly ages of private-sector production and nonsupervisory employees rose by 7 cents in the month to $23.83, a 0.22 percent gain.
The labor force participation rate was little changed at 63.2 percent in November. The employment-population ratio was 61.0 percent for the third consecutive month. Both numbers would ordinarily be declining to do the expected retirement of baby-boomers. Holding steady indicates that the strong labor market is enticing workers to stay on the job.
Story cited here.
