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.
Kavanaugh throws Trump ‘a lifeline’ on mail ballot rules despite Supreme Court loss before midterms
Explosive report exposes ‘dangerous imbalance’ in law school pipeline shaping how election cases are decided
West Virginia woman charged in death of ill husband she left on toilet for 19 hours
20 states sue to block Trump admin rule that would make it harder for immigrants to obtain visas, green cards
WATCH: Handcuffed inmate breaks free, punches deputy in wild courthouse escape attempt
Democrat candidate seen sobbing, praying in patrol car after DUI arrest: Video
Maryland family speaks out after ‘4-foot-long’ rabid beaver attacks 13-year-old boy
Watch: Chaos Erupts at Courthouse When Convict Busts Out of His Handcuffs and Charges Through Sheriff’s Deputies
House Passes Legislation Forcing Data Centers to Foot the Bill for Increased Utility Costs
Dem insurgent turns on the charm with party establishment as Schumer leaves bitter feud hanging
Don’t Fall Into the Sydney Sweeney Trap: Supporting Everything the Left Hates Is Not Conservative
White House Chief of Staff Susie Wiles Announces She Has Beaten Cancer
Lawmakers say they are standing at the gates against ‘Trojan horses’ promoting malign foreign interests
Skid Row forgeries, illegal votes and a mayoral candidate: Election fraud cases pile up nationwide
Lindsay Clancy Holdout Juror Allegedly Identified, Causing Judge to Impound List
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.
