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.
House Republicans unlock reconciliation process to fund ICE and Border Patrol without Democrats
Small-town Virginia mayor reportedly arrested for allegedly showing up drunk to train derailment
Romanian national learns fate for swatting US officials, including members of Congress, judges
Melania Trump embraces AI education initiative in White House tech push: ‘She’s been a champion’
‘The View’ Floats Dangerous Conspiracy Theory About Trump Days After Assassination Attempt, Draws Response from White House
Why The Supreme Court’s Landmark Elections Decision Is a ‘Game Changer’ for the Midterms and Beyond
Trump’s USA ‘Rededication to God’ Event in DC Will Occur Same Date as Continental Congress Took Similar Action in 1776
Trump weighs pulling US troops from Germany amid clash with chancellor over Iran war
GOP gubernatorial hopeful blasted by critics for ‘lying’ on stage about illegal immigrant hires
‘Sanctuary Politicians’ Release Illegal Alien Suspected of Killing Newlywed Couple – Then ICE Steps In
Trump EPA chief vows he won’t take ‘morality lessons’ from Dem senator after heated clash
Trump Isn’t the Problem: Dems Called John McCain and Mitt Romney Racists and Nazis, Too
Newsom mocks Trump’s limited-edition passport with fake California driver’s license featuring gov’s portrait
UnitedHealthcare Fires Employee Who Said She Was Sad Trump Assassin Failed: ‘Violence is Never Acceptable’
United Airlines Flight Reportedly Struck by a Drone at 3,000 Feet
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.
